The strategy to ease tourist’s holidays to Madagascar is on its way. The new administration board of Air Madagascar has been constituted during the shareholders general assembly this month. Administrators from Air Austral are getting in the board.
Air Madagascar turns a new page of its history. The administration board has changed a lot. The ordinary shareholders assembly held this month in Antananarivo has named the 7 members of this decisive authority for a 4-years mandate. The people from Air Austral are getting in the board. The staff representative is not in the board anymore and only 2 former administrators have been renewed in their seat.
Marie Joseph Malé, Dominique Dufour and Didier Robert will have a word to say in the new administration board of Air Madagascar. These 2 first men are the current CEO and the current secretary-general of Air Austral. The last is the president of Sematra (Owning company of Air Austral) and will represent the interests of the airline from La Reunion Island.
A part from the Air Austral representatives, 4 representatives of the Malagasy state will complete the board. Thierry Rakotoarison and Eric Koller are keeping their seats. Herivelo Andriamanga, managing director of the Treasury, and General Didier Paza, are completing the 7 members board.
According to the information released by Air Madagascar, they will only take their duty up once the deal between the two airlines is closed. Outgoing administrators will assure the transition and the continuity of operations. Nomination of the new Board’s president will be done in the coming days.
Since the signature of the strategic partnership last 9th of October, everybody were waiting for the next step: the shareholders’ agreement signature. I.e. the entry of Air Austral into the capital of Air Madagascar. This entry is conditional on the funds raise of $40 millions by the Reunion Island airline. The first $10 millions payment will allow it to buy 39.04% of Air Madagascar’s capital. Then the payment of $5 millions will allow it to become the 2nd stakeholder of Malagasy airline company with 49% of the capital. The remaining $25 millions will be placed in the operating account.
Changes are about to come in the management of Air Madagascar. We hope it will improve flights reliability and punctuality, especially in domestic network, before the 2018’s touristic season starts.
Source: L’express de Madagascar 11.21.2017