A group of investors led by Carlyle Group Inc. is considering a sale of Trans Maldivian Airways that could value the world’s largest seaplane operator at as much as US$ 700 million.
Carlyle and co-investors King Street Capital Management and Davidson Kempner Capital Management have held initial talks with potential advisers for the divestment of TMA. A transaction may value the Maldives-based seaplane operator at US$ 500 million to US$ 700 million.
Other firms in the industry and investment funds have shown preliminary interest in acquiring the business and considerations are ongoing but no final decision has been made and the owners could still decide to retain the asset for longer, according to sources.
TMA is the oldest air services provider in the Maldives and has since expanded into the world’s biggest seaplane operator, according to its website. The company provides transfer services from the Maldives’s main international airport to more than 80 island resorts across the country, flying over 1 million passengers each year.
Carlyle Group Inc. became TMA’s majority owner last year after leading a debt restructuring deal, along with King Street and Davidson Kempner.
