The South African government has agreed to finance the restructuring of South African Airways (SAA) as indicated in a copy of a draft plan shown on Monday. The draft plan involves a government agreement to spend R21 billion ($1.2 billion) to restructure SAA. According to the draft plan, a working capital injection is estimated at not less than R2 billion to restart operations once there are relaxed travel restrictions brought up by the coronavirus pandemic. In addition, another R2 billion…
International Air Transport Association (IATA) has already outlined a roadmap of a proposed temporary layered approach that will help to jump-start air travel around the world. The guidelines are geared at building confidence with the aviation stakeholders to enable reopening of borders and the safe return of passenger flights amid…
South African Express has become one of the latest victims of the global pandemic as the South African High Court gave an order on Tuesday, April 28., for the provisional liquidation of the airline. The airline has been under a form of bankruptcy protection since February and had suspended its…
The immediate liquidation threat of South African Airways (SAA) may be averted for now as announced by the Department of Public Enterprises (DPE) on Saturday. The new deadline for the proposed employment agreement has also been extended to May 1, 2020. DPE also acknowledged an agreement was reached in a…
While other airlines around the globe are receiving cash infusions to keep themselves afloat, the government of South Africa has decided to take the opposite approach. The government has opted to deny future funding for the flag carrier in a push to get the airline to move towards profitability. South…
As part of the bankruptcy protection process initiated at the end of 2019, South African Airways last week announced a series of measures that seek to return profitability to its operations. The process is in the hands of two consultants specialized in these practices, led by Siviwe Dongwana and Les…
South African Airways is putting up some of its widebody Airbus A340-600 aircraft up for sale in order to accommodate some of the newer Airbus A350-900s being added to its fleet. The Johannesburg-based airline has found it necessary to sell its older Airbus aircraft to accommodate the new models with…
South African Airways (SAA) has once again been saved from collapse after the airline received funding of 3.5 billion South African Rands ($239 million USD) from a state-owned bank. The team overseeing the rescue package, the Business Rescue Practitioners declared: “We can confirm that the Development Bank of South Africa…
In the wake of the announcement earlier this week that one-fifth of South African Airways’ (SAA) employees may lose their jobs due to restructuring of the airline, two union groups have confirmed that planned strike action would still go ahead on Friday. As a result, SAA has cancelled nearly all…
The South African commercial aviation sector took another hit this week with the announcement Friday that all South African (SA) Express flights were to be grounded immediately due to maintenance concerns. Following the announcement, news agency Fin24 reported that South African Civil Aviation Authority (SACAA) was behind the grounding of…
