Air Austral now on the right track
Air Austral’s new chairman and CEO, Joseph Bréma, has been speaking about the health of the Indian Ocean island of Reunion’s airline.
![Boeing 787](/sites/aerospace/times/files/styles/lead_image_2_1280x720_/public/2024-03/B787%20Air%20Austral%20Copyright%20Air%20Austral%20copy.jpg?itok=RZED59Qf)
Air Austral Boeing 787. Picture: Air Austral
Having come close to bankruptcy after the global pandemic, France contributed to its rescue by injecting €120-million 2020 and a further €60-million in 2021 - both in the form of guaranteed loans.
Air Austral subsequently won the title of ‘Best Overall Airline’ in Africa at the 2022 ‘APEX Passenger Choice’ awards.
Bréma’s restructuring plan – targeted for completion by 2025 - had previously required the approval both of the State and the European Commission. Initially, Jean-François Carenco, the minister delegate for overseas territories, wanted a merger with French airline Corsair - via a holding company - while keeping the identity of each company.
Ultimately, a consortium of 27 local private investors took 55.18% of the capital of Air Austral. The remaining capital is held by the regional semi-public Sematra company and it’s thanks to this that the airline's debt has been reduced to an estimated €65-million.
Air traffic has indeed resumed at Roland Garros international airport with an increase of 6% compared to 2019. There is also better visibility of Reunion as a destination internationally - and in particular throughout Asia.
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