2023-11-24 09:52:57
The Director of Operations of the World Bank is expected in Madagascar the week of November 27, 2023. One of the reasons for her visit being the support of the Bretton Woods Institution for the airline Madagascar Airlines which recently acquired a new recovery plan called Phénix 2030.
A preparatory meeting was held yesterday by the Minister of Economy and Finance, Rindra Hasimbelo Rabarinirinason, the Minister of Transport and Meteorology, Valéry Ramonjavelo, and representatives of the Bank accompanied by their air sector expert. It was agreed that Madagascar Airlines will benefit from financing from the World Bank but that the Malagasy government will provide the funds in advance, and the Bank will reimburse them later in the form of a loan.
The Council of Ministers of November 10 validated the implementation of the new business plan, called “Phoenix 2030” of the Madagascar Airlines company. The objective being to relaunch and return the company to profitability within 2 years, announced Thierry Bailleul, general director of the company.
The national airline had established, last year, a contract with Embraer for the rental of its new generation E190-E2 aircraft, the contract was canceled following, among other things, the several postponements of the arrival of the planes. Air-Cosmos, a magazine specializing in aviation, revealed in its columns of November 7 that “the adaptability of the aircraft to the needs of the Malagasy company was among other things in question. Technically the motors of these devices would be considered fragile and have a fairly high failure rate.”
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