Over the years, Air Madagascar operated a total of four ATR-42, all of which have been replaced by ATR-72's. The last ATR-42 (and only -500) to join the fleet was 5R-MJG built in July of 2006. In September of 2016, this airframe was sold to Colombia where it continues to fly for EasyFly as HK-5199 at the time of upload.

Built in 1989, N208JW was leased by MAF Madagascar from Greystoke Engineering Inc. Flagstaff (AZ) for about 2 years in 2002 / 2003, after MAF's Partenavia 68C suffered a landing accident and was out of business for a while. Previous registrations were N9743F and F-OGOD. Still current as N208JW with Maxim Aviation Llc Summerland Key, Florida.

Built in 1989, registered as B-2203 before joining Air Madagascar after their HS748's were phased out. This airframe was the first ATR-42 for Air Madagascar and was replaced in 2007 by the more economic ATR-42-500. 5R-MJC was sold to First Air in Canada as C-GUNO, and currently still flies for Canadian North with same registration.