Blackstone, the world's largest private equity fund, is reportedly finalizing a deal to reinvest $500 million and acquire a controlling stake in Trans Maldivian Airways (TMA), the leading seaplane operator globally. This move marks a significant development as Blackstone had previously owned TMA from 2013 to 2017 before selling its majority share to a consortium that included Bain Capital and Chinese firm Shenzhen Tempus Global Business Services Holdings.

The potential repurchase by Blackstone at a comparable price to its previous sale has generated buzz in the aviation industry, signaling a strategic play by the private equity giant. TMA's operations primarily involve ferrying upscale tourists from Male-Velana International Airport to the picturesque islands of the Maldives, making it a vital player in the region's tourism sector.

The dynamics shifted when the COVID-19 pandemic struck, disrupting global travel and adversely impacting TMA's revenue streams. Bain's investment aspirations were derailed by the unprecedented crisis, leading to default on a substantial loan and subsequent transfer of control to new lenders, notably Carlyle Group.

Now, with Blackstone on the cusp of reasserting its influence over Trans Maldivian Airways, the industry anticipates a full circle moment with the deal nearing completion. The proposed acquisition comes at a time when the Maldives tourism sector is rebounding, witnessing an uptick in visitor numbers and air traffic at Male International Airport.

As reported by Pilotcenter.net News, Trans Maldivian Airways stands out as the largest amphibious aircraft operator globally, boasting a fleet primarily comprised of De Havilland Canada DHC-6 Twin Otter seaplanes. The airline's merger with Maldivian Air Taxi in 2013, under Blackstone's ownership, positioned it as a key player in the competitive island-hopping air services market in the Maldives, rivaling carriers like Manta Air and Maldivian.