Madagascar will assume control of its national airline after terminating 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 Air Madagascar and shares in the nation’s social security fund. There’s no financial implication on either side, according to the statement.
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.