in Business & Finance

Air Madagascar and Air Austral to ink final deal in 4Q17

Posted 7 August 2017 · Add Comment

Air Madagascar and Air Austral have confirmed the signing of their firm strategic partnership agreement has been delayed until late October at the earliest pending the resolution of several issues including the settlement of the Malagasy carrier's oustanding debts, reports ch-avaition.

The Reunionnaise carrier's Chief Executive Officer (CEO) Marie-Joseph Malé said his team had met with the board of directors of Air Madagascar and its works council for the presentation of a more elaborate business plan.

"However, within the framework of the strategic partnership, there may be elements that still need to be sorted out and require an additional week or even more for their resolution," he was quoted by L'Express. "Nevertheless, in all, we are on track with the aim of being to be able to finalize our partnership by the end of October, the date when everything will be in place, and by which time, the [financial] means will be available to be able to advance in this partnership."

 

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