As a Malagasy national, I am very aware of the kind of issues the company has been having in the last couple of years, and under its new management (since October 2017), I am optimistic about its efforts to improve service and reliability. Please consider this when reading other negative comments. Back in 2015, I had my inconvenient share of cancelled flights as well with Air Madagascar, however my latest flight with them was a rather positive one.
We left punctually from Paris, picking up people in Marseille, from where we also left punctually, arriving in Antananarivo on time.
The plane (an older Airbus A340) is indeed a bit old, with a shaky take off (lights going on and off until they turn them off, better not be epileptic!), but otherwise the flight was comfortable and there was barely any turbulence. I have to highlight the pilots' excellent landing skills, which made for the smoothest landings I have experienced (I have travelled a lot, so I have a lot of other landings to compare it to). You can barely feel the plane touching the ground, and once it does, it does not uncomfortably accelerate due to its momentum, and has somehow already attained its taxiing velocity on the runway.
The inside of the plane was good for cleanliness. The ashtrays had a bit of trash in them, so it should have been cleaned up. Bathroom was okay, I usually avoid going to the bathrooms during flights, but this was a long one so I had to - I can't really compare it to any other airline.
Service was good on the plane, the staff is friendly and professional. We received a snack from Paris to Marseille (simple cheese sandwich, nothing too special). Dinner was excellent - I enjoyed that there was fish as a selection instead of pasta (I do not eat red or white meat, so pasta is usually my go-to dish). For sure if someone is a full vegetarian that might not work out however. They also served some extra chilli paste along with it, which was delicious. I was very happy with this meal. Breakfast was good, pretty standard in my opinion, but still very satisfying.
I managed to get some sleep through that long flight (I spent about 12 hours inside the plane it total, so it is quite long!). The media selection is smaller than on other airlines, but it had just what I needed - I watched 1.5 movies, and was happy with what I had selected to watch. However, there were not TV shows to watch.
Overall, I had a good and satisfying flight with Air Madagascar, everything was on time and went smoothly. I hope that future flights will continue like this!