Aeroports de Madagascar (ADEMA)

concluded

Aeroports de Paris Management, a subsidiary of the French government, held 34% of the shares of the airport company Aeroports de Madagascar (ADEMA), which managed 12 airports in Madagascar (the remaining shares of ADEMA were held by the government of Madagascar). ADPM held the concession contract since 1991 which was to terminate in February 2006. In 1999, GTM, a subsidiary of Suez Lyonnaise des Eaux (renamed SUEZ in 2001), acquired the 34% stake from ADP Management. In 2003, over 876,000 passengers flew through these airports. During the first eight months of 2004 passenger traffic grew by over 50% when compared to the same period of 2003. The concession contract with ADEMA was temporarily extended in 2006. However, the private operator exited ADEMA in February 2006, which became 100% government owned. The government was looking for a new private operator.