BA to sell 10.5 percent stake in Air Mauritius
London (Thomson Financial) - British Airways Plc said it has agreed to sell its 10.5 percent share in Air Mauritius for 3.2 million pounds.
It said it is selling its 3.84 percent share in Air Mauritius Ltd to the Mauritian government and its 13.24 percent share in Air Mauritius Holding Company Limited to existing shareholders.
BA has held a 10.5 percent share in Air Mauritius since 1973. "Our investment in Air Mauritius no longer forms a core part of our business strategy," said Robbie Baird, BA's area general manager Asia Pacific and the airlines representative on the Air Mauritius board.
"We invested in the airline when it was a start-up airline. It is now a successful carrier, operating to the highest standards and no longer requires our involvement and support."
Completion of the sale is expected within the next month.