British Airways has proven the old city adage that investments are for the long term by selling shares in Air Mauritius it took in 1973 for a handsome £3.2 million.
BA secured its 10.5% stake during the early days of the Indian Ocean-based carrier.
Robbie Baird, BA’s representative on the Air Mauritius board, said: “It is now a successful carrier, operating to the highest standards and no longer requires our involvement and support.”
The airline will sell its 3.84% share in Air Mauritius to the Mauritian government and its 13.24% share in the Air Mauritius Holding Company to existing shareholders.
BA said the sale, which it hopes to complete within the next month, had been made with the full co-operation of Air Mauritius and the Mauritian government.