Antananarivo narrows down Air Madagascar stake contenders

The Malagasy government has named Ethiopian Airlines and Air Austral as the final contenders for a 49% stake in national carrier, Air Madagascar, reports ch-aviation.

Local media reports indicate the two finalists will be required to make their proposals by the end of the current quarter when a firm partnership agreement is expected to be signed.

The entire project is being financed and overseen by the World Bank with IOS Partners and TroyAvi Aviation Consultants providing technical expertise.