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
Villa Resorts hosts over 200 travel agents from India to showcase its transformation

Villa Resorts, a leading Maldivian resort group, recently hosted a series of events for over 200 travel agents from India.
The events were held to highlight the company’s recent rebranding and to familiarise travel agents with the significant changes made as part of its strategic Blue Ocean Shift.
Villa Resorts has a significant market presence in India, and the events were part of the company’s ongoing efforts to work closely with its partners to showcase its transformation and enhancements in its products and services.
The familiarisation events drew over 200 participants, making it one of the largest series of events for travel agents ever hosted by a Maldivian resort group.
Villa Resorts plans to continue hosting similar events throughout the coming year to promote its growing portfolio of resorts to the Indian market.
Business
‘Get Charged and Win’ promotion: Four draws, countless winners, more to go

The ‘Get Charged and Win’ promotion, which launched with great fanfare on June 23, continues to captivate audiences across the nation with its promise of incredible prizes and adrenaline-pumping excitement. As Coca-Cola moves forward, the company has announced not one, but four draws that have rewarded lucky winners with exciting prizes!
The ‘Get Charged and Win’ promotion has been a huge success, with dozens of lucky winners taking home amazing prizes, such as Benelli motorbikes, helmets, and Charged drink cases. The promotion, which started on June 23, has been attracting customers from all over the Maldives, who have been enjoying the refreshing taste of Charged caffeinated beverage and the thrill of scratching their cards to reveal their codes.
So far, four draws have taken place, each one broadcasted live on Television Maldives (TVM) at 9:30pm. The winners of the Benelli motorbikes were Mohamed Adam, MD Musharraf, Mohamed Rasel Hossain and Ahmed Zahir who were ecstatic to receive their prizes and thanked Charged for making their dreams come true. The winners of the helmets and drink cases were also delighted with their rewards and encouraged others to join the promotion.
But don’t worry if you haven’t won yet, because there are still more chances to win! The ‘Get Charged and Win’ promotion is not over yet. That means you still have time to grab your favourite Charged drink, scratch your card, and send your code to 2626 via SMS.
As the exciting journey continues, there are two main draws left in this thrilling event, scheduled for September 24 and October 20. You could be the next lucky winner of a Benelli Leoncino 250 motorbike! But the excitement doesn’t stop there; be sure to keep an eye out for the daily draws, with winners announced regularly on the @ChargedMaldives Instagram page. You could stand a chance to win a Charged branded helmet, or a Charged drink case.
Charged, a ground-breaking addition to Coca-Cola Maldives’ beverage portfolio, is available in 250 ml, in 100% recyclable aluminium cans, in line with our packaging strategy to use 100% recyclable packaging material. The caffeinated beverage is now widely available at major retail outlets, hotels, restaurants, and cafes throughout the Maldives.
Business
JEN Maldives Malé by Shangri-La unveils Oro’s 100% Arabica Rose Coffee

JEN Maldives Malé by Shangri-La has introduced a special coffee to their collection – Oro’s 100% Arabica Rose Coffee. This latest addition to the menu of Jen’s Kitchen On-the-Go aims to provide coffee lovers with the unique and delicate taste of Oro’s Arabica Rose.
The hotel was alive with excitement on Thursday evening with the launch of Oro’s 100% Arabica rose. Media personnel and coffee enthusiasts were treated to an exclusive tasting experience of freshly brewed Arabica Rose Coffee along with some tasty finger foods.
The highlight of the evening was a lucky draw giveaway, extending an invitation for all the guests to participate and win a Skechers Maldives voucher and coffee voucher from Jen’s Kitchen On-the-Go.
Oro’s Arabica Rose Coffee is now available at Jen’s Kitchen on-the-go. It is the perfect spot to refuel with coffee, tea, freshly squeezed juices, or a light bite. Customers can now enroll to become a Shangri-La Circle Member and earn points with every purchase at Jen’s Kitchen On- the-Go and enjoy the rewards at Shangri-La Hotels & Resorts worldwide.
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