Madagascar will take full control of its national airline after ending a partnership with Air Austral, paving the way for potential new deals for the national carrier.
“The most logical decision for Air Austral was to fully withdraw from Air Madagascar” given the current global health and economic context, the Saint Denis, Reunion Island-based airline said in an emailed statement.
The deal was concluded through a swap involving Air Austral's stake in the national airline and Caisse Nationale de Prevoyance Sociale of Madagascar's shares in Air Austral, according to the Reunion Island airline. There's no financial implication on either side.
Malagasy authorities are in talks for Ethiopian Airlines Group, Africa's largest carrier, to buy part of Air Madagascar, Antananarivo-based Midi Madagasikara reported on Wednesday.
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