The board of directors of Madagascar Airlines (MD, Antananarivo) has clarified that no decision has yet been made regarding the potential renewal of CEO Thierry de Bailleul’s mandate, which is set to expire on July 31, 2025, in line with existing contractual terms.
In a statement late on July 15, the board clarified that the matter is still under review. "As of today, the matter of a possible renewal of this mandate is still under review. No final decision has been made. Therefore, recent information circulated by certain media outlets does not reflect the official position of the company nor that of its governance bodies."
This followed media reports, such as by Africa Intelligence and Midi-Madagasikara, alleging that de Bailleul was was not "re-appointed at the end of June".
Amid the media speculation, the board reassured stakeholders that the airline continues to execute its World Bank-backed "Phénix 2030" strategy with a firm focus on stabilisation and recovery. "The company’s leadership and operational teams remain fully committed to ensuring effective governance and rigorous management," it stated. "The progress made in recent years in terms of operational performance, service quality, and modernisation is fully consolidated."
It confirmed that ongoing programmes under the turnaround plan - including digital transformation, fleet renewal, international partnerships, and the development of Antananarivo as a regional hub - are continuing without disruption.
The board further stressed that all contractual, commercial, and institutional commitments remain fully valid and enforced.
In a recent interview with ch-aviation, de Bailleul said Madagascar Airlines was awaiting a final decision on the second tranche of USD40 million of an overall USD65 million support package from the World Bank, of which it had already received USD25 million.
He was optimistic that Madagascar Airlines would post a modest profit in 2025, a key milestone for the carrier that has struggled with mounting debts and ageing infrastructure. The airline has struggled to modernise its fleet due to global supply chain challenges and limited aircraft availability, but plans to intensify its aircraft utilisation thanks to a newly signed productivity contract with its pilots and reinforced strategic maintenance stock. The airline has five aircraft in service: four ATR72-500s and one ATR72-600.
