65 million euros injected by shareholders in 2023, new aid from the Region of 6.75 million euros voted on 7 November
Air Austral: financial crisis caused by strategic choices and missed opportunities
One of the most promising initiatives for Air Austral was the long-haul low-cost project, an innovative idea which aimed to make air tickets between La Réunion Island and France 30% cheaper all year round, without subsidies. Presented in 2007, backed by a partnership with Airbus to bring the 800-seat Airbus A380 into service and managed via a dedicated subsidiary, Outremer 380, this project seemed to be the key to a more competitive future for La Reunion’s airline. It would have enabled Air (…)
