Business
US, China consortium buys Maldives seaplane operator TMA for $550 mln
A consortium led by US-based Bain Capital and a Chinese conglomerate on Sunday agreed to buy Maldives’ main seaplane operator Trans Maldivian Airways (TMA) from Blackstone for around USD 550 million.
For its investment in the tropical holiday destination, the global alternative investment firm partnered with Chinese conglomerate Tempus Group, which runs businesses, including tour operator Shenzhen Tempus Global Travel Holdings and TBRJ Funds.
Bain and Blackstone signed the agreement on Sunday, with the acquisition expected to be completed in the following months.
“TMA is well-positioned to capture the growing tourism demand in the Maldives. Leveraging Bain Capital Private Equity’s successful track record in the leisure industry, we look forward to working with the current management team, employees and customers of TMA to continue to grow and support the industry,” Jonathan Zhu, Managing Director of Bain Capital, was quoted in a statement, as saying.
Citing a source familiar with the transaction, India’s Economic Times said Bain and its partners will end up owning 80 percent of TMA. The other minority shareholders and local founders are staying on with a small stake, it added.
According to the Economic Times, this will be the biggest exit by Blackstone across Asia, giving the private equity firm a 4.8-fold return on a four-year investment.
“We were able to apply our expertise as operators to help Trans Maldivian expand and grow into one of the largest companies into the Maldives and the world’s largest seaplane operator,” Amit Dixit, Head of Blackstone’s India division, which managed the investment in TMA, was quoted in the statement, as saying.
Blackstone in 2013 acquired controlling stakes in TMA and its sole competitor Maldivian Air Taxi (MAT), and merged the two under the TMA brand.
A possible sale of TMA by Blackstone was first reported in September by Bloomberg, which said that the American firm was considering an exit after receiving takeover interest in the company from private equity firms as well as strategic buyers.
The report coincided with an announcement by Chinese conglomerate Zongshen Industrial Group (ZIG) that it was interested in acquiring a stake in TMA.
However, Bloomberg later reported that Bain and Tempus were the top bidders.
TMA currently operates an all-amphibian fleet of 49 aircraft — one DHC-6-100, one DHC-6-200, 44 DHC-6-300s, and three DHC-6-400s — on regular flights throughout the Maldivian archipelago, making it the largest seaplane operator in the world.
In 2016, TMA operated over 120,000 flights, transferring close to a million passengers, including 80,000 residents.
In addition to TMA, Maldives’ flagship carrier Maldivian also operates a fleet of 10 seaplanes.
Seaplane is the preferred mode of transport between the main Velana International Airport and dozens of resorts, especially those located in the outer atolls.
Business
Bestbuy Maldives, Atmosphere Core elevate chef training with Michelin-star masterclass
Bestbuy Maldives (BBM) brought together 100 chefs from leading resorts and restaurants across the country on 24 November for an exclusive culinary masterclass led by Italian One-Michelin-Star Chef Pasquale Palamaro. Held at Hulhule Island Hotel (HIH), the full-house session marked a key highlight of the ongoing “Mediterranean Soul, Maldivian Heart” culinary series presented by Atmosphere Hotels & Resorts in collaboration with BBM.
The masterclass formed the Malé City chapter of the broader programme, which features a lineup of events hosted at RAAYA by Atmosphere and VARU by Atmosphere throughout November 2025. The HIH masterclass served as a platform for professional development, skill exchange, and hands-on learning for chefs from some of the Maldives’ most distinguished culinary teams.
Chef Pasquale, celebrated for his work at Indaco Restaurant in Amalfi, guided participating chefs through a series of live demonstrations that reflected his signature philosophy—one that emphasises intuition, simplicity, and a deep respect for natural ingredients.
“Cooking, to me, is a dialogue with nature — an art of transforming simplicity into beauty. Bringing Indaco’s spirit to the Maldives is an opportunity to merge two coasts and two cultures through taste, technique, and emotion,” he shared during the programme.

Participants explored Mediterranean-inspired methods adapted to Maldivian produce, with Chef Pasquale showcasing dishes rooted in coastal heritage and contemporary craftsmanship. The session also encouraged discussion around ingredient integrity, sustainability-led cooking, and the evolving expectations of today’s luxury diners.
The fully subscribed masterclass reaffirmed BBM’s long-running commitment to cultivating professional excellence within the Maldives’ hospitality sector.
As the authorised distributor of globally renowned culinary and F&B brands, BBM has built a reputation for its Masterclass Series, which brings international expertise to local professionals through practical workshops and high-level training. This latest edition added a Michelin-starred perspective to the growing body of knowledge BBM continues to nurture across the industry.
Ali Afrah Hassan, Head – Human Resources, Administration & Corporate Affairs at BBM, highlighted the importance of consistent capacity building in the sector.
“This masterclass reflects our ongoing commitment to strengthening the skills of the Maldivian culinary community. By creating opportunities for chefs to learn directly from international experts, we help broaden professional exposure and support the industry’s growth. BBM will continue to invest in platforms that uplift local talent and contribute to raising the overall standard of hospitality in the Maldives,” he said.

The masterclass follows two immersive days at RAAYA by Atmosphere earlier in the month, where guests joined farm experiences, tasting sessions, and a hands-on workshop before a five-course dinner curated by Chef Pasquale. The series will continue with a 4-Hands Dinner at Kaagé on 27 November and a masterclass with a five-course dinner at NÜ on 28 November at VARU by Atmosphere.
Anupam Banerjee, Vice President, Food & Beverage at Atmosphere Core, emphasised how the collaboration bridges traditions and culinary ideologies.
“All our island resorts have long been recognised for their culinary offerings,” he noted. “Through Chef Pasquale’s artistry and our island-inspired ethos, we are crafting an evocative dialogue between Mediterranean and Maldivian gastronomies that not only captivates the palate but also champions environmental stewardship and celebrates the cultural richness of both regions.”
For attending chefs, the session offered more than demonstrations—it provided the rare opportunity to learn directly from a Michelin-starred figure whose approach blends innovation with a respect for locality. Many participants described the workshop as an opportunity to refine technique, discover new applications for familiar ingredients, and build valuable connections within the professional community.
With strong engagement and enthusiastic feedback from attendees, the masterclass stands as another milestone in BBM’s long-standing role in elevating culinary standards in the Maldives.
Business
2 decades of culinary excellence: BBM’s founding legacy with Hotel Asia continues in 2025
Hotel Asia Exhibition and International Culinary Challenge is referred to be the hospitality industry event in the Maldives. In this year’s Culinary Challenge (19 to 22 October 2025) comprising competitions over 20 categories, most will take place at the Faculty of Hospitality and Tourism Studies, Maldives National University, and some at the Synthetic Track, Hulhumalé.

A Founding Partnership that Endures
Since the very first edition in 2001, Bestbuy Maldives (BBM) has played a central role in shaping the International Culinary Challenge into the Maldives’ most prestigious culinary platform. The event has become a cornerstone for professional development, bringing together chefs from across the Maldives to compete, learn, and showcase their craft.

BBM and their associated Principals sponsor an overwhelming majority of categories. “From the beginning, our goal has been to create opportunities for Maldivian chefs to rise to global standards. This partnership has grown with the industry itself,” said A.V.S. Subrahmanyam, Chief Operating Officer of BBM.

Nurturing Local Talent
BBM’s contribution extends beyond sponsorship. The company has built a long-term system for recognizing and developing local culinary talent.
- BBM Chairman’s Trophy for the Best Maldivian Competitor.
- Most Promising Young Chef Award for emerging talent.
- Global exposure programs for Maldivian chefs through sponsored participation in international events.
- Pro-bono Masterclasses with world-renowned chefs to encourage learning and innovation.
Investing in the Future of Hospitality
Through initiatives such as Building Young Talent, BBM continues to mentor aspiring professionals and support the next generation of chefs. The company also promotes inclusivity by sponsoring opportunities for female and young chefs to gain international exposure.
BBM’s industry partnerships include its role as Title Sponsor of the Hotelier Maldives Awards, celebrating excellence across the Maldivian hospitality sector.

Proud Sponsors of Culinary Excellence
In 2025, BBM and its partner brands proudly sponsor 14 competition categories and 8 Main Awards, further strengthening their role in the development of culinary arts in the Maldives. Categories include Decorated Cake, Artistic Showpiece, Bread and Pastry Display, Three Desserts (Display), Desserts, Rice Dish, Asian Noodles, Team Challenge, Maldivian Dish, Creative Sandwich, Young Chef, Tea Challenge, tapas/finger food, and Iced Mocktail.
Business
Bestbuy Maldives, MNU forge partnership to advance hospitality education
The Maldives National University – Faculty of Hospitality and Tourism Studies (MNU-FHTS) and Bestbuy Maldives (BBM) have officially signed a Memorandum of Understanding (MoU) to strengthen industry-academic collaboration and advance hospitality education in the Maldives.
The MoU was signed by Dr Aishath Shehenaz Adam, Vice Chancellor of MNU, and Ismail Hilmy, Chairman and Managing Director of BBM, during a ceremony attended by the university’s Chancellor Dr Mahmood Shaugee, senior management, and representatives from both organisations.
This partnership marks a significant milestone in developing a state-of-the-art Food and Beverage Practical Demonstration Kitchen at MNU-FHTS. BBM will support the upgrading of the existing Garde Manger kitchen and classrooms, contributing financially and materially to create a modern, industry-standard learning environment for future hospitality professionals.
Beyond infrastructure, the collaboration will extend to academic and training support, research and innovation in culinary arts, community engagement, and professional networking opportunities, ensuring that students gain practical, real-world experience aligned with industry expectations.
Highlighting the broader purpose of this partnership, BBM stated that, “This is a significant step in the direction of BBM’s vision involving hospitality industry outreach in the Maldives — because tomorrows start today. Initially, we will set up a world-class model kitchen that will be suitable for masterclasses and hands-on training for students; and also for product demonstrations, masterclasses, and interaction with groups of customers.”
Speaking at the ceremony, representatives from both institutions emphasised their shared vision to promote excellence in education, innovation, and human capital development in the Maldivian hospitality sector. This partnership underscores BBM’s continued commitment to supporting education and industry growth, and MNU-FHTS’s mission to bridge the gap between academia and industry — nurturing the next generation of hospitality leaders in the Maldives.
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