1. How is Madagascar Airlines positioning itself as a key gateway to the Indian Ocean and Southern Africa region?
When we started our new strategy, we launched a master plan called Phoenix 2030, which aims to bring the company back to profitability and operational excellence.
A major chapter of this plan is about improving connectivity. We made the decision to refocus on our domestic network. Madagascar is a large country, comparable in size to France plus the Benelux region. The capital, Antananarivo, is at the center, and the main tourist destinations are on the coasts. This makes the capital an ideal domestic hub, and we now serve about 12 destinations along the coast.
For the past year and a half, we’ve focused heavily on the domestic market. We went from heavy losses two years ago to breaking even, actually, we were already financially balanced last year if you exclude one-time exceptional costs. Now that we’re profitable, we can invest in connectivity.
The first thing we did was realign our flight schedules to connect with our strategic partners, Air France and Emirates. We schedule our domestic departures to coincide with their arrivals, and vice versa, to ensure smooth connections for travelers. Previously, passengers had to overnight in Tana to reach their final destination. Now, they can connect within three hours, this is a game changer.
We’ve also implemented codeshare agreements and competitive through-fares, which enhance the appeal for both local and international travelers.
Secondly, we improved domestic connectivity itself. Previously, to go from one end of the island to the other, passengers had to pass through Tana and often overnight there. For example, to go from Fort Dauphin in the south to Diego Suarez in the north, it could take nearly 24 hours. That was simply not acceptable.
We’ve introduced new routes to directly connect provinces. This benefits both locals and tourists. Now, a tourist can visit Nosy Be, then Toliara, and end in Sainte-Marie, three distinct regions, in just two weeks. That wasn’t feasible before.
It’s also essential to have reliable operations to support these connections. Historically, the airline struggled with delays and cancellations, not due to poor staff, but due to lack of resources. A year and a half ago, we had only 1.5 aircraft in operation. Now, we have five.
We’re building a stock of spare parts and tools, so we can perform maintenance promptly. Before, a broken part could ground an aircraft for three days while we waited for international delivery. Now, with local inventory, we can turn around repairs in minutes or hours.
This dramatically improves our punctuality, which is now at 85%. That’s crucial when connecting with international flights, passengers expect seamless transfers after 18-hour journeys, not delays.
2. What are your priorities for modernizing the airline’s fleet and enhancing the overall passenger experience?
There are two parts to fleet modernization. First, we are phasing out older or more expensive aircraft and replacing them with more cost-efficient models.
Some aircraft were still in good condition but came with unaffordable leases. We negotiated to cancel or revise those leases. We lease most of our fleet and have two main leasing partners. Initially, they were reluctant to work with us due to unpaid debts.
Over two and a half years of negotiations, we’ve settled all outstanding debts. Now, we’re starting fresh. The leasing partners trust us again and no longer charge us risk premiums. We’re now paying market rates.
This improved relationship puts us in a positive cycle, we regain trust, get better leasing terms, and can invest further in modernizing the fleet, which directly enhances the passenger experience.
3. What strategic role does the UAE and the broader Gulf region play in your development strategy?
First of all, we want to offer the Gulf region connections to discover what is one of the best-kept touristic secrets in the world, Madagascar. I don’t know anyone who has gone to places like Sainte-Marie or Toliara and come back disappointed. Most of them return with stars in their eyes. It’s a fantastic destination, and for me personally, it's been the most emotionally powerful place I’ve traveled to.
Madagascar offers incredible diversity, ethnic, cultural, and natural, which sets it apart from other island destinations like Mauritius or Seychelles. So, for the GCC public, we want to facilitate that discovery. We aim to ensure that our domestic flights serve as a seamless extension of long-haul flights from partners like Emirates or Air France. Even if the domestic flight is short, we want it to be consistent in quality and experience with what passengers expect from international airlines and high-end hotels.
Beyond that, Emirates, with its global hub in Dubai, opens up access to markets in Asia, the Far East, Southeast Asia, and Eastern Europe. So, we’re shaping a partnership to jointly sell tickets and improve connectivity for travelers from those regions to Madagascar. The goal is to operate almost as if we were one single airline with our partners. That’s rare, especially in Africa. But it brings tremendous value in boosting tourism and generating more passenger traffic, which allows us to grow our fleet and revenue. Our entire team is now fully aligned with this strategic goal.
4. Are there opportunities for collaboration with Gulf-based airlines or investors in aviation infrastructure or operations?
We’ve already tested the waters with private investors. My conclusion is that we first need to prove ourselves over time. Investors told us, politely, that they see the potential, but want to see consistent delivery and profitability first. That’s fair.
We expect to announce a profit at the end of this year. As we do, investor interest will grow. My message to them is: take your time, but not too much, because once demand grows, we’ll have choices to make.
We’re also working on reducing our debt and restructuring our capital. When I took over, we had nearly $40 million in debt. Today, it’s under $20 million, and we’re negotiating with the government to convert a portion of that into equity. That would bring the figure below $9 million, which we’re already repaying steadily. We aim to eliminate our debt entirely by the end of 2026.
The next step is public funding. Madagascar Airlines started with just $5,000 in capital, and until February this year, that hadn't changed. We’ve started restructuring, but it’s a work in progress. Once the capital base is stabilized with government or institutional support, we’ll open up to private investors, most likely next year, once we can present solid financial results. At that point, we’ll be in a much stronger position to negotiate.
5. How is the airline balancing profitability with national development goals, such as accessibility and connectivity?
We balance these priorities by ensuring that every route we operate is sustainable. For example, we recently had to manage with one less aircraft due to delayed engine overhaul, a global issue post-COVID. We considered maintaining the full flight schedule but ultimately decided to reduce frequencies for August.
Why? Because reliability is our top priority, even if it means lower revenue. A delayed or canceled flight does far more damage to trust than lost revenue in the short term. If we build a reputation for reliability, the passengers and the profits will follow.
Trust is critical. For the past 30 years, people in Madagascar haven’t trusted the national airline. Out of 30 million people, 1.5 million can afford to fly, yet we only carried 400,000 passengers last year. Even this year, with 600,000 passengers expected, that’s still only a fraction of the potential. If those 1.5 million people traveled just twice a year, that would be 3 million tickets. We’re nowhere near that yet. But the opportunity is massive, and we’re building towards it step by step, with reliability and financial discipline at the core.
6. To wrap up the interview, what message would you like to convey to the readers of Khaleej Times who may be considering Madagascar as a destination for tourism, business, or partnerships?
I’d say now is the time to come and visit Madagascar, before everyone else does. The earlier you come, the more amazed you’ll be. Like any emerging destination, there’s a unique magic when you visit before the crowds arrive. Imagine walking through a national park with just two or three other families. That’s pure magic. It’s a moment of serenity that’s increasingly rare in today’s world of mass tourism. So yes, when it comes to tourism, the time is now.
The same goes for business. Investors who come early often benefit the most. There’s enormous potential here, and things are starting to move quickly. Of course, investment decisions take time, so it's better to begin now, get to know the country, understand in details our Project “Phénix 2030”, how business is done here, and get comfortable. Importantly, we now have a reliable national airline, which wasn’t the case in the past. Before, unreliable flights were a major concern for visitors. That’s changed. Now, people can travel with confidence, which makes a real difference for both business and leisure.
And when it comes to partnerships, we’re rather open. While we are currently focused on structuring the capital with the State, and we’re absolutely open to talk with early movers. If someone knocks on our door in the coming months with a serious interest in the project, we’ll welcome the conversation, inclose liaison with our Board.
We’re working with the World Bank, who is ready to supporting us over the next three years, not just short-term, as long as we remain complaint with the conditions that had been set by them, and which are totally reasonable. Their support will be a strong signal to potential investors. It allows for a phased approach: start small, build trust, and possibly take over the World Bank’s role once they exit. The government has even declared being open to privatizing the company in the future, as it was already done in other sectors. So there’s a clear long-term vision and opportunity for those who want to be part of Madagascar’s transformation, at the right time. And now, that time has come.
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