Reunion-based Air Austral has closed its acquisition of 49% of Air Madagascar, cementing a strategic partnership between the two airlines and kicking off Air Madagascar’s turnaround. “The shareholders’ pact is signed. The Air Madagascar transformation plan officially starts,” the companies said in a joint statement, describing the agreement as a “historic act” and a “new chapter” for both airlines. The Madagascan government will retain a ...

Subscribe to Access this Entire Article

"Air Austral and Air Madagascar close equity JV" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.