17-Oct-2025 12:35 PM
Madagascar Airlines to 'return to financial balance' in 2025
Madagascar Airlines reported (15-Oct-2025) the following achievements over the past 18 months:
- Increased capacity by nearly 66% in less than two years, surpassing the 2019 level in 2025;
- Expanded the fleet to five operational aircraft, compared to "barely more than one" in late 2023. The airline also stated: "Lessors' confidence has been successfully restored";
- On time performance (within 15 minutes of schedule) reached 80% in 2025;
- Secured an agreement with international lenders and institutional partners to finance a recovery plan;
- Reduced losses each quarter and the airline expects to "return to financial balance" by the end of 2025. [more - original PR] [more - Aviation Week]
Background ✨
Madagascar Airlines pursued a comprehensive restructuring, including lease extensions for two ATR 72s to support ongoing operations until at least 2028 and 20291. It previously added an ATR 72-500 to its fleet as part of its 'Phoenix 2030' renewal plan, with further fleet developments anticipated in early 20252. CEO Thierry de Bailleul reiterated the ambition to break even by end-2025, contingent on addressing high fuel costs3.