A new agreement between Air Madagascar and Air Austral is the beginning of an interim phase in a strategic partnership implementation process between the airlines. This phase will run until the planned signature of the shareholder closing agreement at the end of the month.
The equal partnership is the forerunner to a potential sharp increase in traffic and a return to a leading regional position.
The Malagasy state will continue to be the main shareholder, with 51%, and will appoint a president of the Board of Directors. Air Austral will become the minority shareholder, with 49% of the Malagasy company, and will appoint a general director. The new partner will manage Air Madagascar's administration and operations.
The project's key success factors include: improved services in line with leading international practices; system and technology development to support sales and operational processes; and expanded HR and management teams. New commercial partnerships with other companies are also being discussed with a view to targeting strategic markets.
The strategic partnership process also aims to consolidate the Malagasy tourism sector.
"It's a positive move for a country that until recently has been under the radar for most travellers but as more and more people discover its unique and diverse attractions can see itself becoming an increasingly sought-after destination," says Katja Quasdorf, CEO of Jenman African Safaris.
