Air Mauritius has announced that the vital watershed meeting of its creditors has been postponed until June next year
The airline obtained an order from the Supreme Court of Mauritius to extend the deadline for the airline’s creditors’ meeting from December to June 30, 2021. This meeting is important for the future of the airline, which is under administration, in which the creditors of the company make decisions about the future of the company.
But the fact that it remains under administration does not prevent Air Mauritius from taking to the skies again.
Carla da Silva, Air Mauritius regional manager Southern Africa and Latin America, said that the deadline extension of the creditors’ meeting allows the administrators to conclude the administrative process. “This does not affect the operational requirements. The current border closure is what is currently preventing operations from Mauritius to South Africa,” she explained.
The Mauritian government has extended the 14-day quarantine for visitors to January 15.
Agents report that the airline has removed inventory for the flights between South Africa and Mauritius for December and that the airline’s January flights were only showing options to waitlist. As SAA is still grounded and as BA Comair has not yet announced the relaunch of any regional routes, there are currently no prospects for direct flights to the island should the quarantine be lifted earlier than expected. Travel News understands that Air Austral has been granted approval to fly between South Africa and Mauritius (via Réunion) and that it is relaunching these routes on December 18.
In a statement, the airline advised that the postponement of the meeting was in light of the general lack of economic viability as a result of the fact that a good part of Europe and other primary markets of the airline had recently imposed a new wave of restrictions on international travel due to the global COVID-19 pandemic.
“At this stage, it remains difficult to estimate the restructuring costs (given the stage of the discussions with the stakeholders), which need to be included in the financial statements for the year ended March 31, 2020, and the subsequent quarterly results that comply with the fundamental accounting principles. The subsequent events may affect the preparation of the accounts on a going concern basis. Further time is therefore required to be able to include information in the financial statements in order to provide a true and fair view of the financial status of the Company. For the same reasons, there may be delays in publishing the quarterly financial statements for the quarters ended June 30, 2020, September 30, 2020 and December 31, 2020,” added the airline.
Air Mauritius has also obtained approval from the Stock Exchange of Mauritius for an extension, to June 30 2021, for the publishing of its abridged consolidated audited financial statements for the year ended March 31, 2020, and its subsequent quarterly results.