Business
Carlyle takes over Trans Maldivian Airways from Bain Capital
Carlyle Group Inc said on Thursday it has taken a majority stake in Trans Maldivian Airways (TMA), the world’s largest seaplane operator, from buyout firm Bain Capital following a debt restructuring deal.
TMA began negotiating debt relief with Carlyle and its other creditors after the airline grounded most of its fleet of 56 seaplanes last year, as the Covid-19 pandemic halted travel and tourism into the Maldives.
Terms of the transaction were not disclosed, but people familiar with the matter, who requested anonymity, said Carlyle took majority ownership of TMA from Bain in exchange for agreeing to restructure the airline’s outstanding debt of about $300 million.
Lenders including hedge fund managers King Street Capital Management and Davidson Kempner Capital Management LP took stakes in TMA alongside Carlyle. Bain and Tempus Group, a Chinese tourism-focused conglomerate, retained minority stakes in TMA, according to the sources.
“This transaction marks the beginning of a new chapter for TMA. We look forward to the support of our new owners as we ramp up business and continue providing the world-class service our customers have come to expect,” AUM Fawzy, CEO of TMA, said, in a statement.
“As we do that, the health and safety of our customers and employees remain fundamentally important to both management and our new shareholders and we will continue to follow our industry-leading protocols to ensure the welfare of those involved in TMA’s operations.”
Carlyle said TMA’s current management team will remain in place. A newly reconstituted board will include Lars Erik Nielsen, one of the airline’s founders.
“Our deep experience working with aviation companies positions us well to work alongside our partners at Carlyle and Davidson Kempner as we help lead the company to a strong recovery and its next growth stage,” Zachary Lewis, Managing Director at King Street, said, in the statement.
Bain Capital had owned most of TMA since 2017, when it paid over $500 million in a leveraged buyout deal, together with Tempus, to acquire the airline from Blackstone Group Inc.
Airlines are expecting that widespread vaccinations and the easing of travel restrictions will lead to a rebound in domestic and international flights as more people book trips for business and leisure.
Carlyle’s acquisition of TMA was carried out by the private equity firm’s global credit unit, which has $59 billion in assets under management.
“TMA is an operationally strong business with an experienced management team and clear competitive advantages. We are pleased to provide the strategic capital and expertise the company needs to return to growth,” Christian Schmitz, Managing Director of Carlyle Global Credit, said, in the statement.
“As vaccines continue to be rolled out globally, we expect travel to return to pre-pandemic levels in the Maldives, which remains one of most attractive vacation destinations in the world.”
Note: The above is based mainly on reporting by Reuters.
Business
Feydhoo Hall opens at dusitD2 Feydhoo Maldives as new event space
Dusit International, one of Thailand’s leading hotel and property development companies, has announced the opening of Feydhoo Hall, a landmark event venue at dusitD2 Feydhoo Maldives, redefining the possibilities for meetings, celebrations, and destination events in the Maldives.
Designed to bring scale, flexibility, and creativity to island gatherings, Feydhoo Hall represents a bold step forward in positioning the Maldives as a dynamic destination for conferences, weddings, and large-scale social occasions.
Feydhoo Hall offers a versatile event complex designed to accommodate a wide range of gatherings, from corporate meetings and conferences to weddings and social celebrations.

At its core is the 390 sqm Main Hall, capable of hosting:
- Up to 300 guests in theatre-style setup
- Up to 240 guests for dining and banquet-style events
- Up to 200 guests for cocktail-style receptions
- Up to 144 guests in cluster-round configuration
Enhancing the flexibility of the venue are additional dedicated spaces, including:
- A 110 sqm Veranda Terrace, ideal for welcome receptions, breakout sessions, and pre-event gatherings, accommodating up to 100 guests for cocktail-style events.
- A spacious 1,000 sqm Lawn Space, perfect for large-scale outdoor celebrations, destination weddings, and open-air events, accommodating up to 400 guests for cocktail receptions and up to 350 guests for dining setups.
- The 55 sqm Ekugai Meeting Room, designed for smaller meetings and executive sessions, accommodating up to 30 guests in theatre or dining setup and 24 guests in cluster-round format.
Together, these integrated spaces create a seamless indoor-outdoor event experience, allowing planners to design dynamic and personalised event journeys.
True to the dusitD2 brand’s lifestyle-driven philosophy, Feydhoo Hall introduces a fresh approach to meetings and events — where productivity meets creativity in an inspiring island setting.
The venue offers flexible meeting formats designed to suit different event needs, including:
- Half-Day Meeting Package (4 hours) — ideal for focused sessions, executive meetings, and creative workshops.
- Full-Day Meeting Package (8 hours) — designed for immersive conferences, extended workshops, and large-scale corporate gatherings.
These thoughtfully structured packages provide planners with the flexibility to create impactful and seamless experiences, whether hosting intimate strategy sessions or dynamic full-day events.

Located just seven minutes by speedboat from Velana International Airport, dusitD2 Feydhoo Maldives combines accessibility with vibrant lifestyle energy, offering event planners and guests a rare balance between convenience and tropical escape.
With the introduction of Feydhoo Hall, the resort strengthens its position as a versatile destination — not only for leisure travellers but also for international conferences, creative retreats, luxury weddings, and large-scale social celebrations seeking something refreshingly different in the Maldives.
Business
BBM expands retail presence with new Hulhumalé outlet
Bestbuy Maldives (BBM) opened a new wholesale store in Hulhumalé Phase 2 on Monday.
The outlet is located on the ground floor of Lot 20286, Nirolhu Magu, and is intended to improve access to BBM’s imported goods for residents of Hulhumalé Phase 2 and for businesses operating in the area.
According to the company, the opening forms part of its plan to expand services closer to customers in line with population growth in Hulhumalé.
With the opening of the new store, BBM’s full range of imported and distributed products will be available at the Hulhumalé Phase 2 location. These include consumer goods from international brands such as Lifebuoy, Vaseline and Unilever.
The store will also stock wholesale food products from brands including Daily, Cavin’s and Redman.
BBM has supplied goods to resorts, hotels and retail outlets across the Maldives for several years.
Action
Ataraxis Grand & Spa hosts integrated work-and-dive corporate retreat in Fuvahmulah
Ataraxis Grand & Spa recently hosted a week-long, closed corporate offsite in Fuvahmulah for a US-based artificial intelligence company, highlighting the island’s growing suitability for integrated work-and-experience retreats. The retreat brought a group of 36 international professionals to the property, which was reserved exclusively for the programme.
Designed as a private company offsite, the stay combined structured daily work sessions with guided diving and beginner-friendly surf experiences, creating a balanced format that blended focused collaboration with physical reset.

A notable component of the programme was dive training and certification. During the retreat, 17 participants completed their Open Water certification, while a further six undertook the Advanced Open Water course, with training and dives scheduled alongside work sessions as part of the integrated itinerary.
Throughout the week, participants worked on-site using dedicated shared spaces supported by reliable high-speed internet, allowing meetings, informal collaboration and scheduled activities to take place within a single, uninterrupted environment. This setup enabled teams to move seamlessly between work periods and organised ocean activities without leaving the property.

Fuvahmulah’s natural and operational advantages formed a key part of the retreat’s appeal. As one of the Maldives’ largest inhabited islands, it offers immediate access to pelagic dive sites, internationally recognised shark diving and surf breaks suitable for instruction, alongside the infrastructure required to support extended group stays.

The offsite reflects a growing preference among technology and knowledge-sector teams for small-scale retreats that prioritise concentrated work environments and team cohesion over traditional conference formats. Such programmes typically involve longer stays and higher per-capita spend, aligning with sustainable, quality-driven tourism models.
The retreat also demonstrates how locally operated properties such as Ataraxis Grand & Spa are supporting this shift by delivering unified environments where accommodation, workspaces, connectivity and curated experiences operate as a single programme rather than separate services.

As organisations continue to explore alternative formats for strategy sessions, team resets and creative offsites, Ataraxis Grand & Spa’s experience positions Fuvahmulah as an increasingly viable destination for integrated corporate retreats.
Ataraxis Grand & Spa offers work-and-dive retreat programmes in Fuvahmulah that combine accommodation, dedicated workspaces, high-speed connectivity and organised diving and surfing.

Further information on retreat formats and dive-inclusive stays is available via the Ataraxis Grand & Spa website.
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