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Malagasy State by the bedside of Air Madagascar

The Board of Directors of Air  Madagascar has resigned last week; replaced by a new management team due to the staff strike triggered on June 15 , the Malagasy authorities have decided to financially support the Malagasy airline which is facing difficult economic situation.

Thus, the state majority shareholder in Air Madagascar has agreed to the grant of an exceptional subsidy of 2 billion ariary ( 547,000 euros) to support the company which have been affected by the strike.

The Treasury, for its part assured that funds will be released this week on the condition that aviation activities in parallel resume their normal course.

It is to be noted that the strike has cost $ 500,000 to Air Madagascar each day.


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