World's largest seaplane operator Trans Maldivian Airways (TMA) has added its 50th seaplane to the fleet.
The latest addition to TMA's fleet landed at Velana International Airport flying from Calgary, Canada around late afternoon on Wednesday.
Managed by US based investment firm Black Stone Group, TMA entered a merger with Maldivian Air-Taxi back in 2013. Black Stone purchased shares of the latter company at a value between USD120-150 million for the corporate merger.
TMA is the largest carrier in domestic seaplane trips making daily stops at local resorts to carry tourists. Last year alone the seaplane operator had flown a total of 1.29 million tourists.
The seaplane operator has entered into a purchase deal with a consortium led by Bain Capital Private Equity is set to acquire the venture for USD500 million. The consortium includes Shenzhen Tempus Global Business Services Holdings Ltd and TBRJ Fund 1 L.P Bain Capital, headquartered in US.
Black Stone first revealed its plan on selling the venture back in September 2017. This will also be the company's largest exit across Asia.
Once the deal goes through Black Stone is expected to receive a 4.8-fold return on their four year investment.
