Air Austral: Best Airline Financial Management Team Indian Ocean 2022
Air Austral has implemented a Covid recovery plan that’s fuelled by the momentum of strategic partnerships and conscientious fiscal management. The company has established itself as an aeronautical jewel of the Indian Ocean with operations that contribute significantly to the economic and political sustainability of the island. The airline, which is headquartered in the French overseas department and region of Reunion Island, offers direct flights to mainland France (European connection via code share agreement with Air France), Asia and the Indian Ocean. It adds another 100 destinations through codeshare partnerships and aviation alliances. The airline commenced operations in 1990, with the island’s regional council as a shareholder. Air Austral’s longstanding CEO Marie-Joseph Malé, who has driven the company’s financial management strategy over the past decade, left the airline in June 2022. Mr. Malé spearheaded the airline’s financial recovery in 2012, regaining balance within a year. In 2017, he implemented a profitable differentiating strategy to address the rise in undercutting offers from budget airlines. The departing CEO leaves the company with the necessary assets to face whatever challenges may arise. He passes the reins to incoming CEO Joseph Bréma, who has served as Air Austral’s deputy general manager of economic and financial affairs for three decades. Air Austral is reaping the rewards of a digital transformation journey that began two years ago, from streamlined internal processes to an enhanced customer experience. The CFI.co judging panel recognises Air Austral — a repeat programme winner — with the 2022 award for Best Airline Financial Management Team (Indian Ocean).
