Our impact

Ivato and Nosy Be Airports, Madagascar

Two airports in Madagascar are being improved and operated, including refurbishment of existing facilities and runways and construction of a new international terminal in the capital.



The project comprises the design, construction, financing and operation of two existing airports namely Ivato International Airport in Antananarivo and Fascène Airport in Nosy Bé. The concession was granted for a duration of 28 years, including 3 years of construction (with operational testing and commissioning
services). As part of the project, the following key enhancements have been realised:

  • Passenger handling capacity was more than doubled at Ivato Airport, which serves Antananarivo, Madagascar’s capital city. Its runway was reinforced and resurfaced to handle wide-bodied aircraft and a 17,500 m2 international terminal was built with an initial capacity of 1.5 million passengers per year.
  • The capacity of Fascene Airport at Nosy Bé, one of the country’s main tourism destinations, was increased to 500,000 passengers a year.

The project benefits from a EUR 130 million senior loan provided by a pool of multilateral organizations (IFC, Proparco, EAIF, OFID and DBSA) with a maturity of 16 years, a fixed rate and a margin of 500bps.


In Operation


ESG/SDG Key Facts

Ivato and Nosy Bé help to increase Madagascar’s attractiveness and contribute to the country’s development. The accessibility offered by these airports increases Madagascar’s visibility, attracts potential future investment and stimulates its economy through tourism, business, and the direct and indirect job creation that ensues.

Ravinala Airports has entered, for the Ivato airport, into the program of Airport Service Quality certification (ASQ) led by the Airports Council International (ACI). The program provides tools and expertise to measure and improve passenger satisfaction, business performance, and airport service quality. Initial assessment shows that passenger satisfaction shall be improved especially in terms of access to shops, Wi-Fi, leisure, etc. An action plan has been launched with the objective of being named best airport in its category and geographic area by end of 2025.
Following the award of the Airport Carbon Accreditation (ACA) 1 in January 2023, Ravinala is now targeting a further reduction of its CO2 emissions to get the ACA 2 level by 2026. The next objective will be to reach ACA 3 level: this will also require reduction of the emissions by third parties involved in the operation of the airports (ground handlers, etc.).
Finally, Ravinala Airports is launching a foundation focusing on societal actions driven by philanthropic objectives. The foundation will enable more ambitious actions, help more beneficiaries, benefit from tax advantages, and enlarge the collect of grants.



PPP in Madagascar


Means of transport in and out

Significant Boost

For the Malagasy economy
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