Loading
23-Jul-2020 11:31 AM

Air Austral exits partnership with Air Madagascar as Malagasy Government takes full control

Air Austral and Air Madagascar signed (22-Jul-2020) a MoU on 21-Jul-2020 confirming the final exit of Air Austral from the share capital of Air Madagascar. Air Austral's three representatives on Air Madagascar's board resigned and Madagascar's Government and the country's Caisse Nationale de Prévoyance Sociale (CNAPS) now take full control of Air Madagascar. Air Austral exchanged its shares in Air Madagascar with CNAPS without any financial impact for the companies. Air Austral and Air Madagascar entered their capital partnership in 2017. The two airlines will now pursue their own strategic objectives but may collaborate in future. [more - original PR - French]

Want More News Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More