Madagascar Airlines Extends CEO’s Mandate

Madagascar Airlines has confirmed that CEO Thierry de Bailleul will remain in his role to ensure continuity in the company’s ongoing transformation. The decision supports the World Bank-backed Phenix 2030 strategic plan, which aims to restructure the national carrier and stabilize its operations.

De Bailleul said the extension was made at the request of the Malagasy government and the airline’s board of directors. “This extension is not about a title or a contract – it is about ensuring continuity in the work already underway and making sure we have the means to secure that continuity,” he stated.

The Phenix 2030 plan is supported by a $65 million World Bank financing package, of which $25 million has already been disbursed. Negotiations are also underway for an additional $80 million, split between $40 million for the airline and $40 million for aviation infrastructure.

Funding release depends on key conditions, including approval of Madagascar Airlines’ April 18, 2025, offer to acquire the assets of Air Madagascar and its subsidiary Tsaradia. The proposal, designed to end the current lease-management arrangement, has been approved by Malagasy authorities but is still awaiting implementation. Exemptions on aircraft and equipment import duties have also been cleared but not yet enforced.

Currently, Madagascar Airlines operates five aircraft: four ATR72-500s and one ATR72-600. The confirmation of de Bailleul’s extended mandate comes after reports suggesting his departure, which the airline has firmly denied. The move reinforces stability as the carrier pushes ahead with its restructuring.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com