Air Madagascar chooses a strategic partner
The board of Air Madagascar has decided to recommend Air Austral as preferred bidder to the Malagasy state.
The board of Air Madagascar has decided to recommend Air Austral as preferred bidder to the Malagasy state.
As part of the process of selecting a strategic partner, IOS Partners and TroyAvi have submitted their assessment report and technical conclusions to the Board of Directors of Air Madagascar following the negotiation sessions held in parallel with Air Austral and Ethiopian Airlines during the months of February and March 2017.
The Board of Directors took note of the technical conclusions of its advisors, concerning notably the assessment of the development plans proposed by the two finalist companies. Following this assessment stage, the Board of Directors took the decision, at its meeting held on 13 March 2017, to recommend to the Malagasy State, Air Austral as preferred bidder.
As a result, the Board of Directors has invited Air Austral to finalise negotiations with the Malagasy State with a view to sign a Memorandum of Understanding by 31 March 2017 and by 31 May a strategic partnership agreement and a shareholders' agreement.
"We are extremely proud of this announcement which comes after a quality process", says a spokesman of Air Austral.
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