Air Madagascar Group has worked with the Malagasy Government in a search for a strategic partner to strengthen and develop the Air Madagascar Group, the company said.
The company said IOS Partners, Inc. an aviation and transaction advisory company with the support of TroyAvi Aviation Consultants has been appointed as transaction advisor to materialize this project, which received funding from the World Bank. The company said it hopes to complete the process by the end of 2016.
Air Madagascar´s vision is strengthen and expand its position as a regional carrier, serving the Vanilla Islands and Eastern African markets; and provide increased connectivity to the major long haul markets, through a cooperation with a strategic partner.
Air Madagascar currently serves 27 destinations, with six aircraft and is the national airline of Madagascar, and the company controls several subsidiaries providing key aeronautical and ancillary services to a large range of clients, related to the transportation and tourism industries.