On Sunday, Blackstone (NYSE:BX) announced that one of its private equity funds has purchased controlling interests in two seaplane operators servicing the Maldives: Maldivian Air Taxi and Trans Maldivian Airways.
Together, the two air taxi services operate 44 seaplanes running more than 100,000 flights per year among the 1,000 islands that make up the vacation nation.
Blackstone has a long-standing interest in such travel and leisure investments. In a press release describing the acquisitions, the company noted: "Blackstone manages, through its portfolio companies, the largest number of hotel rooms in the world and this transaction marks our sustained enthusiasm for the travel and tourism space."
Financial terms were not disclosed.