The Board of Directors of Air Madagascar took a decision on March 13, 2017 to recommend to the Malagasy State the designation of Air Austral as the preferred bidder in the ongoing transaction process. This recommendation follows nearly two months of negotiations between the IOS Partners-led consulting team and the two companies selected in the short list, Ethiopian Airlines and Air Austral. The Board of Directors therefore invited Air Austral to finalize negotiations with the Government for the signing of a Memorandum of Understanding on March 31, 2017 and a strategic partnership agreement and a shareholders’ agreement by May 31, 2017. IOS Partners has worked closely with Air Madagascar and key stakeholders to determine the scale, scope, and timeframe of the transaction, assess the strategic needs of the airline in order to regain its dominant status in the domestic and regional markets, lead the selection of a strategic partner, and ensure the successful closure of the transaction.
Source:
Air-Cosmos
AirInfo
