Madagascar Airlines CEO Resigns Amid Internal Tensions

Madagascar Airlines CEO Thierry de Bailleul has resigned from his post, citing internal tensions within the company.

De Bailleul’s Oct. 15 resignation took effect immediately, coming less than two months after his mandate was extended. The airline said in a statement that he had chosen to “step back from his duties” in a “spirit of responsibility.”

However, in a message to employees, de Bailleul expressed “deep concern over the potential consequences of prolonged managerial instability on cash flow, investor confidence, and the long-term sustainability of the airline.”

Over the last 18 months, the carrier has seen recovery. The airline expanded its fleet from a single operational aircraft to five and surpassed pre-pandemic capacity levels earlier this year.

The airline also reported renewed confidence among lessors and lenders, with a projection to achieve financial balance by the end of 2025 after reducing quarterly losses.

Following his departure, de Bailleul recommended that the airline’s executive committee collectively manage day-to-day operations under the supervision of the board of directors.

Madagascar Airlines, launched in April 2022 as an indirectly state-owned entity, was created to consolidate the country’s struggling air transport sector following the bankruptcy of its previous international and domestic carriers.

The airline has five operational ATR 72s in its fleet, while a sixth is due in April 2026.