Latest news with #AirMauritius
&w=3840&q=100)
First Post
2 hours ago
- Business
- First Post
Why, and how, India plans to help cash-strapped Air Mauritius
Mauritius holds strategic importance for India due to its geographic position along key maritime routes in the Western Indian Ocean Region. Moreover, geopolitical interest in Mauritius has grown amid intensifying competition with China read more The Indian government has encouraged domestic airlines to consider investing in Air Mauritius, the financially troubled national carrier of Mauritius, which is grappling with negative equity of approximately $237 million (Rs 2,035 crore), according to officials familiar with the matter. The request from India's Ministry of External Affairs follows an appeal by Mauritius for strategic investments and additional flights by Indian carriers to its capital, Port Louis. Air Mauritius recently reduced flights to India substantially, cutting its twice-weekly Delhi service down to a single weekly flight and raising fares significantly in a bid to curb losses, Economic Times reported. STORY CONTINUES BELOW THIS AD Airport Holdings Limited (AHL), a company owned by the Mauritian government, holds a 99 per cent stake in Air Mauritius. As part of efforts to stabilize the airline financially, AHL recently converted around Rs 1,500 crore of debt into equity. Mauritius Prime Minister Navin Ramgoolam acknowledged earlier this year that Air Mauritius was technically insolvent, casting doubt on its viability. Indian airline executives expressed reservations about investing in Air Mauritius, citing limited passenger demand from the region and their ongoing internal expansion initiatives. Neither India's Ministry of Civil Aviation nor Air Mauritius responded to requests for comment on the potential investment. Strategic importance Mauritius holds strategic importance for India due to its geographic position along key maritime routes in the Western Indian Ocean Region. Prime Minister Narendra Modi, who was chief guest at Mauritius' National Day celebrations this year, emphasised the importance of Indian investment for Mauritius' economic development. India also recently built an airstrip and jetty on Mauritius' Agaléga island. Previously, Air India held around an 8 per cent stake in Air Mauritius until Air India's privatisation in 2022. Geopolitical interest in Mauritius has grown amid intensifying competition with China. Beijing maintains a military base in Djibouti and has increased engagement across the region, including Mauritius. Samir Bhattacharya, an associate fellow at the Observer Research Foundation, highlighted India's intention to maintain its influence against China in the region, emphasizing diplomatic and commercial connections. Although Mauritius is well positioned to attract transit passengers between Africa and Asia, rising competition from airlines like Emirates and Indian carriers Air India and IndiGo has complicated Air Mauritius' efforts to establish itself as a profitable transit hub.
Time of India
20 hours ago
- Business
- Time of India
Local Airlines Nudged to Invest in Air Mauritius
The Centre has asked carriers to consider a strategic investment in Air Mauritius , the financially strapped national carrier of the African island nation, people aware of the development said. The nudge from the government comes as that airline battles a financial crisis , with a negative equity of $237 million (₹2,035 crore). A government official said the move came after the ministry of external affairs got a request from the Mauritian government for a potential strategic investment. It also asked for an increase in flights by Indian carriers to its capital, Port Louis, the person said. 'To cut losses, Air Mauritius has restructured its network, as part of which it significantly cut flights to India,' the official said. 'Indian carriers have been asked to launch more flights to cover the shortfall. The airline is also seeking to raise funding by selling equity, so Indian airlines are being requested to consider that, (but) only if it suits their business interest.' Airport Holdings (AHL), controlled by the Government of Mauritius, has a 99% stake in the airline. AHL recently converted ₹1,500 crore of debt into equity as part of the carrier's financial restructuring. Earlier this year, Mauritius Prime Minister Navin Ramgoolam said the carrier was technically insolvent, casting doubt over its future. The airline, which earlier operated two weekly flights between Port Louis and Delhi, had considered axing them but then decided to reduce it to one a week, while increasing fares significantly. Spokespersons of the ministry of civil aviation and Air Mauritius didn't respond to queries on the topic. Indian airline executives said they are unlikely to be interested in investing in a market that's not a significant source of passengers for them. Besides, they are in the midst of executing their own ambitious expansion plans. Prime Minister Narendra Modi was chief guest at Mauritius' National Day celebrations earlier this year. During his visit, Ramgoolam asked Indian investors to explore opportunities in the island nation, underlining that their participation is 'vital' for its economic growth. Last year, India built an airstrip and a jetty at Agaléga island in that country. Air India held about 8% of Air Mauritius before the former was privatised in 2022. Experts said Mauritius is of strategic interest to India due to its location on the maritime routes of the Western Indian Ocean Region (WIOR). Geopolitical competition over the region has intensified. China has a military base in Djibouti and extended its engagement with and presence in Mauritius and other island nations, according to Samir Bhattacharya, associate fellow at Observer Research Foundation. 'Given its diplomatic, cultural and commercial connections in the region, India considers the WIOR a part of its extended neighbourhood,' he wrote recently. 'Despite geographically being part of Africa, New Delhi categorises both Mauritius and the Seychelles under the Indian Ocean Region division, alongside more proximate states such as Sri Lanka and the Maldives. India is therefore keen to safeguard its influence against Beijing in this region.' While Mauritius is geographically well positioned to attract transit traffic between Africa and Asia, a fast-growing market, competition has surged. That's made it difficult for Air Mauritius to succeed at developing a new east-west hub while maintaining profitability. Since Air India absorbed Vistara last November, the airline has increased flights, managing to win a portion of the traffic from Air Mauritius while IndiGo continues to capture a significant share of that market. Additionally, Middle East carriers such as Emirates have a strong presence on the route.
Economic Times
20 hours ago
- Business
- Economic Times
Centre nudges Indian carriers to invest in crisis-hit Air Mauritius amid strategic push in Indian Ocean
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Centre has asked carriers to consider a strategic investment in Air Mauritius , the financially strapped national carrier of the African island nation, people aware of the development said. The nudge from the government comes as that airline battles a financial crisis , with a negative equity of $237 million (Rs 2,035 crore).A government official said the move came after the ministry of external affairs got a request from the Mauritian government for a potential strategic investment. It also asked for an increase in flights by Indian carriers to its capital, Port Louis, the person said.'To cut losses, Air Mauritius has restructured its network, as part of which it significantly cut flights to India,' the official said. 'Indian carriers have been asked to launch more flights to cover the shortfall. The airline is also seeking to raise funding by selling equity, so Indian airlines are being requested to consider that, (but) only if it suits their business interest.'Airport Holdings (AHL), controlled by the Government of Mauritius, has a 99% stake in the airline. AHL recently converted Rs 1,500 crore of debt into equity as part of the carrier's financial restructuring. Earlier this year, Mauritius Prime Minister Navin Ramgoolam said the carrier was technically insolvent, casting doubt over its airline, which earlier operated two weekly flights between Port Louis and Delhi, had considered axing them but then decided to reduce it to one a week, while increasing fares significantly. Spokespersons of the ministry of civil aviation and Air Mauritius didn't respond to queries on the airline executives said they are unlikely to be interested in investing in a market that's not a significant source of passengers for them. Besides, they are in the midst of executing their own ambitious expansion Minister Narendra Modi was chief guest at Mauritius' National Day celebrations earlier this year. During his visit, Ramgoolam asked Indian investors to explore opportunities in the island nation, underlining that their participation is 'vital' for its economic growth. Last year, India built an airstrip and a jetty at Agaléga island in that country. Air India held about 8% of Air Mauritius before the former was privatised in said Mauritius is of strategic interest to India due to its location on the maritime routes of the Western Indian Ocean Region (WIOR). Geopolitical competition over the region has intensified. China has a military base in Djibouti and extended its engagement with and presence in Mauritius and other island nations, according to Samir Bhattacharya, associate fellow at Observer Research Foundation.'Given its diplomatic, cultural and commercial connections in the region, India considers the WIOR a part of its extended neighbourhood,' he wrote recently. 'Despite geographically being part of Africa, New Delhi categorises both Mauritius and the Seychelles under the Indian Ocean Region division, alongside more proximate states such as Sri Lanka and the is therefore keen to safeguard its influence against Beijing in this region.' While Mauritius is geographically well positioned to attract transit traffic between Africa and Asia, a fast-growing market, competition has surged. That's made it difficult for Air Mauritius to succeed at developing a new east-west hub while maintaining Air India absorbed Vistara last November, the airline has increased flights, managing to win a portion of the traffic from Air Mauritius while IndiGo continues to capture a significant share of that market. Additionally, Middle East carriers such as Emirates have a strong presence on the route.
Time of India
20 hours ago
- Business
- Time of India
Centre nudges Indian carriers to invest in crisis-hit Air Mauritius amid strategic push in Indian Ocean
The Centre has asked carriers to consider a strategic investment in Air Mauritius , the financially strapped national carrier of the African island nation, people aware of the development said. The nudge from the government comes as that airline battles a financial crisis , with a negative equity of $237 million (Rs 2,035 crore). A government official said the move came after the ministry of external affairs got a request from the Mauritian government for a potential strategic investment. It also asked for an increase in flights by Indian carriers to its capital, Port Louis, the person said. 'To cut losses, Air Mauritius has restructured its network, as part of which it significantly cut flights to India,' the official said. 'Indian carriers have been asked to launch more flights to cover the shortfall. The airline is also seeking to raise funding by selling equity, so Indian airlines are being requested to consider that, (but) only if it suits their business interest.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like เทรดทองCFDsกับโบรกเกอร์ที่เชื่อถือได้| เปิดบัญชีวันนี้ IC Markets สมัคร Undo Airport Holdings (AHL), controlled by the Government of Mauritius, has a 99% stake in the airline. AHL recently converted Rs 1,500 crore of debt into equity as part of the carrier's financial restructuring. Earlier this year, Mauritius Prime Minister Navin Ramgoolam said the carrier was technically insolvent, casting doubt over its future. The airline, which earlier operated two weekly flights between Port Louis and Delhi, had considered axing them but then decided to reduce it to one a week, while increasing fares significantly. Spokespersons of the ministry of civil aviation and Air Mauritius didn't respond to queries on the topic. Live Events Indian airline executives said they are unlikely to be interested in investing in a market that's not a significant source of passengers for them. Besides, they are in the midst of executing their own ambitious expansion plans. WHY IT MATTERS Prime Minister Narendra Modi was chief guest at Mauritius' National Day celebrations earlier this year. During his visit, Ramgoolam asked Indian investors to explore opportunities in the island nation, underlining that their participation is 'vital' for its economic growth. Last year, India built an airstrip and a jetty at Agaléga island in that country. Air India held about 8% of Air Mauritius before the former was privatised in 2022. Experts said Mauritius is of strategic interest to India due to its location on the maritime routes of the Western Indian Ocean Region (WIOR). Geopolitical competition over the region has intensified. China has a military base in Djibouti and extended its engagement with and presence in Mauritius and other island nations, according to Samir Bhattacharya, associate fellow at Observer Research Foundation. 'Given its diplomatic, cultural and commercial connections in the region, India considers the WIOR a part of its extended neighbourhood,' he wrote recently. 'Despite geographically being part of Africa, New Delhi categorises both Mauritius and the Seychelles under the Indian Ocean Region division, alongside more proximate states such as Sri Lanka and the Maldives. India is therefore keen to safeguard its influence against Beijing in this region.' While Mauritius is geographically well positioned to attract transit traffic between Africa and Asia, a fast-growing market, competition has surged. That's made it difficult for Air Mauritius to succeed at developing a new east-west hub while maintaining profitability. Since Air India absorbed Vistara last November, the airline has increased flights, managing to win a portion of the traffic from Air Mauritius while IndiGo continues to capture a significant share of that market. Additionally, Middle East carriers such as Emirates have a strong presence on the route.
Times of Oman
3 days ago
- Business
- Times of Oman
Air India expands codeshare partnership with Air Mauritius
New Delhi: Air India and the national carrier of Mauritius, Air Mauritius, have expanded their existing codeshare partnership to offer travelers improved connectivity across the Indian Subcontinent and the African region. As per a statement from Air India, the two airlines signed the expanded codeshare agreement on the sidelines of the 81st IATA AGM in New Delhi, in the presence of Campbell Wilson, CEO and Managing Director, Air India, and Kishore Beegoo, Chairman, Air Mauritius. As part of the strengthened bilateral codeshare agreement, Air India and Air Mauritius will place their designator codes on a total of 17 routes between India, Mauritius, Reunion, South Africa, and Madagascar. With the enhanced codeshare partnership, Air India will place its 'AI' designator code on Air Mauritius flights to and from Cape Town and Johannesburg in South Africa, and Antananarivo in Madagascar, for Air India guests to seamlessly travel to these cities via Mauritius on a single ticket and baggage checked through to their final destination. Air India already codeshares on Air Mauritius flights between Mauritius and Mumbai, Delhi, and Reunion. Air Mauritius currently places its 'MK' designator code on Air India flights between Mumbai and Delhi, Bengaluru, Chennai, Hyderabad, Ahmedabad, Kolkata, Goa, Delhi and Bengaluru, Chennai. As part of the enhanced codeshare, Air Mauritius will place its 'MK' designator code on Air India flights between Mauritius and Mumbai. Thus, all flights operated by Air India and Air Mauritius between the two countries will have each other's designator codes, thereby multiplying flight options for customers of either carrier. Campbell Wilson, CEO and Managing Director, Air India, said: "India is one of the largest tourism source markets for destinations in Southern Africa, including Mauritius and South Africa, as well as a strong trade partner to the region. This expanded codeshare partnership with Air Mauritius is another step toward widening our extended global network, which enables our customers to easily access these destinations." "Air Mauritius is pleased to expand its collaboration with Air India, offering our passengers connections to numerous destinations across India via Mumbai, Delhi, and Chennai. Travellers from India to Mauritius will not only experience the warmth of our multi-cultural society and the richness of our diverse local cuisine, but also enjoy the convenience of connecting to Reunion, South Africa, and Madagascar beyond with Air Mauritius," says Kishore Beegoo, Chairman of Air Mauritius. The additional codeshare flights are available for booking from 01 July 2025 through Air India's and Air Mauritius' respective booking channels and through travel agents.
