Significant progress towards “Phoenix 2030” turnaround plan

On March 21, Madagascar Airlines’ CEO, Thierry de Bailleul, proudly announced the airline’s readmission to the International Air Transport Association (IATA) as part of their ambitious turnaround plan dubbed “Phoenix 2030”.

As part of the readmission process in 2022, the Malagasy airline will incur a deposit of USD 5 million, facilitating secure transactions and enabling ticket distribution through travel agencies and tour operators. De Bailleul elaborated, stating, « With our reintegration, it is now possible to book flights to destinations such as Antananarivo and Nosy Be through a large network of travel agencies affiliated with the Billing and Settlement Plan (BSP), covering 70 to 90 % of the market ».

Furthermore, de Bailleul outlined plans to procure 6 ATR 72-500 regional jets by 2024. Among these, two will be leased bareboat from ACIA Aero Leasing, headquartered in Dublin, Ireland, with the Malagasy government serving as guarantor. Madagascar Airlines will pivot its focus towards regional services, opting to suspend international flights until 2026 to facilitate a return to profitability.

Concurrently, the airline seeks to gradually reduce its wage bill in alignment with its revised business volume. De Bailleul emphasized a cautious approach, stating, « It is not our modus operandi to make radical decisions. We’re going to do things in the most consensual and humane way possible ».