Embarked on the almost complete reconstruction of Air Madagascar, the plan of Thierry de Bailleul, new CEO of the Malagasy company renamed Madagascar Airlines is beginning to materialize.
Two major steps have been taken: obtain the confidence of public authorities and, just as importantly, get help from financial institutions with a serious and rigorous flight plan for a return to profitability.
Suspension of long-haul flights, abandonment of expensive contracts, return to IATA, investments and partnerships, Thierry de Bailleul, whom we met in Paris, now has free rein to revive and prosper the company.
TourMaG – You have held responsibilities in many renowned airlines: Air France, Qatar, Emirates to support and develop growth. With Madagascar Airlines, the mission is more difficult. It’s a real challenge: turning around a company that’s doing badly?
Thierry de Bailleul: Yes, and this mission is the fruit, I would say, of personal inspirations and opportunities.
As you recalled, I served in large companies: Air France – KLM at the time of the merger, an exciting moment and then Emirates, and a parenthesis in the world of wine before being called by Thierry Antinori to Qatar Airways to occupy the position of Vice President Europe in 2020 based in London… and in the middle of Covid.
A very special period with workforce reduction obligations and also a lot of fairly new things that I had never done.
But at the same time I had this desire that comes when you have toured big companies, to experience a little adrenaline and thrills in my career.
I didn’t go looking for them. I was contacted by the entourage of the President of the Republic of Madagascar, Andry Rajoelina, who came to pick me up.
I took a period of reflection for a few months and again the President wanted to meet me here in Paris where we are.
We spoke for two hours. “Are you interested in the mission?” the President asked me at the end of our meeting.
I said yes with a phrase that came to me spontaneously: “The mission interests me and I think we can make this phoenix rise from its ashes.”
I then felt an emotion pass through him and the next day I received confirmation of my mission.
TourMaG – What date were we on at this precise moment?
Thierry de Bailleul: It was September 2022 and it’s been a real obstacle course ever since.
Air Madagascar: a loss of 20 million dollars every year for 20 years.
In 2021, Covid brought the company to its knees. It entered into legal settlement and a new company was created: Madagascar Airlinesmerger between the two former companies, Air Madagascar for international and Tsaradia for domestic.
In 2022, this new company started with an economic model doomed to failure.
