#AirAustral completes acquisition of 49 percent shares in #AirMadagascar

AIR AUSTRAL AND AIR MADAGASCAR NOW OFFICIALLY PARTNERS

(Posted 01st December 2017)

Air Austral yesterday reported the completion of the acquisition of 49 percent of the shares of Air Madagascar, following a decision earlier in the year by the government in Antananarivo to privatise the national airline and selecting Air Austral, home airline of neighbouring Reunion, as their partner of choice.
The boards and management of both airlines hailed the completion of the transaction as a historic moment and a new chapter.
Air Austral, the financially successful airline based on Reunion, has reportedly prepared a new business plan for Air Madagascar and will second senior management to the company while the government will retain its majority on the board given their continued 51 percent stake in the carrier. Eric Koller was named Chairman of the Board ten days ago when a total of seven new directors were appointed for a four year term of office.
Both airlines are also partners with Air Seychelles and Air Mauritius in the Indian Ocean Vanilla Islands aviation alliance.

Also click on the links of previous articles for added information how this deal shaped up:

https://atcnews.org/2017/03/20/air-austral-selected-as-preferred-strategic-partner-for-air-madagascar/

https://atcnews.org/2017/04/11/next-phase-underway-in-air-austral-air-madagascar-partnership/

https://atcnews.org/2017/10/11/airaustral-signs-deal-with-madagascar-government-to-acquire-49-percent-in-air-madagascar/

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