Madagascar Airlines CEO resigns
Madagascar Airlines announced (15-Oct-2025) CEO Thierry de Bailleul decided to "step back from his duties", effective immediately, "following internal communications that have created a climate of tension within the company". Mr de Bailleul proposed that the executive committee ensure operational continuity to maintain normal operations and uphold commitments to the company's partners. The airline stated that Mr de Bailleul "expressed deep concern over the potential consequences of prolonged managerial instability on cash flow, investor confidence and the long term sustainability of the airline". [more - original PR] [more - Aviation Week]
Background ✨
Madagascar Airlines under CEO Thierry de Bailleul faced significant financial challenges, including monthly losses of USD2.8 million primarily due to high fuel costs and long haul ACMI operations, leading to cash flow issues and operational disruptions. The airline suspended its own long haul operations to Europe, restructured its fleet, and pursued a new business plan to return to profitability, with government and investor support secured for the restructuring effort1.