Aviation Business

China’s Zongshen eyes US, Maldivian seaplane carriers

Chinese conglomerate Zongshen Industrial Group (ZIG) is in talks to acquire shareholdings in seaplane operators located in the Maldives and the United States. The firm already acquired a 49% stake in Canada’s Harbour Air Seaplanes (Vancouver Coal Harbour) in 2015.

According to Xinhua, Chairman Zuo Zongshen said in line with the firm’s plans to become the world’s largest operator of commercial amphibious aircraft, negotiations were currently underway to acquire a stake in the biggest seaplane airline in the Maldives – Trans Maldivian Airways (M8, Malé) – this year. The purchase, if approved, will see ZIG spend “billions of yuan”, he said.

Trans Maldivian Airways operates an all-amphibian fleet of one DHC-6-100, one DHC-6-200, thirty-nine DHC-6-300s, and three DHC-6-400s on regular flights throughout the Maldivian archipelago.

The carrier is controlled by US venture capital firm, Blackstone, which, in 2013, acquired controlling stakes in two Maldives-based seaplane operators – Maldivian Air Taxi (Malé) and Trans Maldivian Airways – before merging the two under the Trans Maldivian Airways brand.

Full details are available from the link below:

Source URL: Bing News :

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