Recovery of Air Madagascar : A personal challenge from the President

President Andry Nirina Rajoelina has taken the recovery of the national airline Madagascar Airlines as a personal challenge. On the other hand, this turnaround promises to be difficult, What do you think ?

Recovery of Air Madagascar : A personal challenge from the President

The President took the personal challenge of the recovery of the national airline Air Madagascar during the National Investment Forum.

To straighten out the national airline, several points need to be reviewed and corrected. In particular the renewal or reinforcement of the company's fleet, both for long flights- couriers than domestic flights.

Indeed, the President announced that an Embraer will arrive soon to reinforce the company's fleet to serve the domestic and regional network. A Boeing Dreamliner will also come to ensure the long haul. And, rectifications are however imperative in the mode of management of the company , emphasizes the President.

Needs for the recovery of Air Madagascar

For the recovery of Air Madagascar, the authorities mention a financing need of at least 69 million dollars to achieve this.

Added to this is the need to cancel debts as well as essential restructuring for Air Madagascar. These measures to be implemented to redress the national company in the face of its financial difficulties were presented by the State to the International Monetary Fund (IMF) in the last memorandum of economic and financial policy which bound the two parties.

The strategic plan for the modernization of public finance management (PSMFP) presented last October had already raised that the financial balance of Air Madagascar is fragile and that the liabilities of the national company constitute a major budgetary risk.

Air Madagascar is also the second company majority-owned by the State to be the most indebted if we refer to the register of liabilities published by the Ministry of Economy and Finance in April of this year..

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