Société Nationale Malgache de Transports Aériens, operating as Air Madagascar, is the national airline of Madagascar. Founded in 1961, the carrier is based at Ivato International Airport, Antananarivo and operates an extensive domestic network as well as scheduled international services to Europe, Asia and neighbouring African and Indian Ocean island destinations. Over recent years the airline has been a subject of failed privatisation measures. However on 09-Oct-2017, Air Austral and Air Madagascar signed a strategic partnership agreement, formalising the terms and conditions of the acquisition of a 49% stake in Air Madagascar by Air Austral. Madagascar's Government retained a 51% stake and appoint the airline's chairman, while Air Austral will propose a CEO. Air Austral invested USD40 million in Air Madagascar and provide technical and operational expertise. The shareholder agreement was signed on 30-Nov-2017.
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