The IBL Group has announced it has entered discussions to join Run Air, the consortium of private investors holding the majority stake in Air Austral, one of the leading airlines in the Indian Ocean. This investment aligns with IBL Group’s Beyond Borders expansion strategy, reinforcing its position as a major economic player in the region.
The financial contribution of €3 million from the IBL Group complements a €15 million fundraising effort for Air Austral, which has been implementing a recovery plan for several months following financial difficulties exacerbated by the Covid crisis.
This strategic decision builds on a commercial relationship spanning over 20 years. IBL Group has been a longstanding partner of Air Austral in the Indian Ocean, with representations in Mauritius, Comoros, and Madagascar. Furthermore, Air Austral and IBL Group were co-shareholders in Air Mascareignes, an airline launched in 2008.
“We responded to an invitation from Groupe Deleflie, leader of the private consortium that acquired the majority stake in Air Austral, to discuss IBL’s participation in the airline’s recovery plan. The goal is twofold: to deepen our economic and social ties in Réunion Island and to demonstrate our long-term commitment to the development of our sister island and the broader Indian Ocean region, including Mayotte.
This minority stake highlights our dedication to Air Austral’s turnaround process, in collaboration with our new partners and with the approval of the Regional Council of Réunion and its President, Madame Huguette Bello,” stated Arnaud Lagesse, Group CEO of IBL.
IBL Group is a key economic player in Réunion Island, with diversified activities. Its presence spans construction through Bazalt Réunion and UBP Group, retail via Run Market and Winners, beverages with Edena and PhoenixBev, and luxury hospitality with Lux* Saint Gilles.
