MEGA Maldives Airlines has announced the decision to temporarily suspend all commercial flight operations with effect from Tuesday, 2nd May 2017.
In a statement released on Monday, the Airline said the move was “part of its restructuring and recapitalization efforts”, adding that the efforts began in 2016.
“Since 2016 MEGA Maldives Airlines has been involved in the complex process of restructuring the company with the aim of recapitalizing, and upgrading to meet the level of product our customers and the Maldives require and deserve”, reads the statement, which includes securing new investments, changes to ownership structure, and more.
It noted that the company’s ambition is to resume flight operations with newer, more reliable aircraft “once the restructuring process is completed”.
Noting that the company was aware of the public's expectations. MEGA Maldives CEO George Weinmann said that “the Board of Directors and Executive team felt that it was necessary to focus on the restructuring and improving [the company’s] product and service".
“We will look forward to returning to flying very soon with a renewed fleet that can service established, under-served and emerging market”, added Weinmann.
While the statement did not note a date for flights to resume, MEGA said that during the suspension period the company’s “other management and administrative functions will continue as before”.
Back in April MEGA Maldives Airlines denied rumors that it is to sell off a majority stake, saying that the company “has not traded any shares to any onshore business entities or individuals either foreign or local”.
