Air Madagascar shortlists four airlines as potential partner

Filiatreault said that several firms had submitted proposals to acquire up to 49% of Air Madagascar including Air France and several Gulf carriers.

From that seven, the list has now been shortlisted to; Air Austral, Kenya Airways Airlink, and Air Mauritius with a definitive choice set to be made by year-end.

The final evaluation process will focus on the benefits each carrier can bring to Air Madagascar in terms of growth synergies as well as its plan to help return the loss-making national airline to long-term profitability

"We're on track with the [privatisation] process. Air Madagascar will take to the skies with its new strategic partner during the first trimester of 2017,” said Malagasy Minister of Transport, Benjamina Ramarcel Ramanantsoa.