Covid-19 sends Air Mauritius into business rescue

, entering voluntary administration, or business rescue, after travel disruptions from the coronavirus pandemic made it impossible for the airline to meet its financial obligations.Virgin Australia also entering into voluntary administration this week.

“Unfortunately, travel restrictions and the closure of borders in all our markets and cessation of international and domestic flights in this unprecedented crisis, has led to a complete erosion of the company’s revenue base,” the board of Air Mauritius said in a statement. Air Mauritius operates 13 aircraft and flies to 22 destinations, according to information on its website.

According to its latest annual report, it had 2,929 staff as of the end of March 2019, including outsourced staff. At the time, the airline employed 201 pilots. Air Mauritius had appointed administrators from Grant Thornton, who said in a separate statement that the airline industry is experiencing its worst crisis since World War 2.

Source: News Formal (newsformal.com)

“We should get used to news of this kind,” said Volodymyr Bilotkach, a lecturer in air-transport management at the Singapore Institute of Technology. “We’ll see more airlines go under.”

SAA is not alone......even Virgin Atlantic is in the ICU begging for bailout from UK government. This Chinese virus is dangerous

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Covid-19 restrictions: How families are using social media tools to pay their last respectsFor a Durban family, the lockdown meant having to livestream the funeral of a loved one because not everyone was allowed to attend due to travel bans and restrictions placed on gatherings. TheMercurySA Day28ofLockdown TheMercurySA Some peoples selfishness is mind boggling. Celebrate their lives
Source: IOL - 🏆 46. / 51 Read more »

Assessing fake news and misinformation is vital for Covid-19A new initiative brings technical, legal and media expertise to the examination of mis- and disinformation about the pandemic, write William Bird and Avani Singh
Source: BDliveSA - 🏆 12. / 63 Read more »

What the Covid-19 lockdown means for sexual and reproductive health servicesAccess to reproductive healthcare services is almost always time sensitive and not something that can simply be placed on hold because of the Covid-19 lockdown, write Thuthukile Mbatha and Tendai Mafuma
Source: City_Press - 🏆 7. / 72 Read more »

Covid-19 has upended the status quo and forced us to reclaim our humanityCovid-19 has put into stark relief the very real problems of poverty, unemployment and inequality across the globe, and has unexpectedly upended the status quo, writes Thabang J Motsohi. I’d rather die from the flu than not be free to work to put food on the table. I’d rather die than be caged like a monkey ruled by bankrupt Tyrants who discriminate against whites prohibiting them from receiving relief funds because of the colour of their skin.
Source: City_Press - 🏆 7. / 72 Read more »

Two New York cats become first US pets to test positive for Covid-19Two cats in New York have become the first pets in the United States to test positive for the new coronavirus but there is no evidence pets can spread the virus to humans. coronavirus These cats have been ignoring lockdown rules putting people's lives in danger Only in America even the cats are arrogant Oh nooooooo!
Source: IOL - 🏆 46. / 51 Read more »

What you need to know about SA’s R500bn Covid-19 support packageGovernment has set aside R500 billion to implement measures which can bolster the economy and assist the most vulnerable citizens during the Covid-19 coronavirus outbreak
Source: City_Press - 🏆 7. / 72 Read more »