All South African Airways articles – Page 3
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NewsSouth African government to sell majority of SAA to investor consortium
South Africa’s government is to sell a majority share in South African Airways to a consortium of investors, as part of the effort to relaunch the troubled flag-carrier. Preferred investment consortium Takatso would take a 51% stake in the airline while the government would retain the balance, as well as ...
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NewsSouth African airline woes continue as Mango reportedly set to pause flights
Low-cost carrier Mango appears to be the latest South African operator to run into financial difficulties amid reports the airline could temporarily suspend flights in May and seek to enter a formal restructuring until it can secure state funds.
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NewsEthiopian reports lack of progress in SAA joint-venture talks
Ethiopian Airlines is making slow progress with talks regarding cooperation with South African Airways, according to the former’s chief executive Tewolde Gebremariam.
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NewsGovernment urged to direct SAA rescue funds to vaccine resource
South Africa’s political opposition is urging the country’s finance minister, Tito Mboweni, to abandon the R10 billion ($680 million) funding plan to restructure South African Airways and plough the capital into a vaccination programme. The Democratic Alliance has written to Mboweni claiming that the government should “divert” the SAA allocation ...
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NewsAirlink loses case to retrieve revenues held by former partner SAA
South African carrier Airlink has failed to convince the country’s Supreme Court of Appeal that it is owed R510 million ($33 million) in ticket funds held by South African Airways. The court has upheld a Gauteng high court decision rejecting Airlink’s claim to the ticket revenues collected by SAA on ...
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NewsGovernment defends public funding of SAA rescue plan
South Africa’s government has defended its R10.5 billion ($640 million) funding of South African Airways’ rescue plan, insisting that the financing will help finalise the restructuring and assist the selection of a strategic equity partner. It is dismissing criticism of the plan from the Democratic Alliance, its political opposition, claiming ...
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NewsSouth Africans urged to boycott SAA over government bailout
South African citizens are being urged to boycott flag-carrier South African Airways by an anti-maladministration organisation which focuses on the country’s state-owned enterprises. The Organisation Undoing Tax Abuse has sharply criticised the South African finance ministry’s bailout of SAA in its mid-term budget, after months of uncertainty over the sourcing ...
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NewsFinance minister castigated as state bails out SAA
South African Airways is to be allocated R10.5 billion ($642 million) to implement its business rescue plan, the country’s finance minister has disclosed in a speech to parliament. Tito Mboweni outlined the funding in a medium-term budget policy statement on 28 October. He said that R10.5 billion would be assigned ...
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NewsSAA maintenance arm lifts service suspension against house carriers
South African Airways’ maintenance arm, SAA Technical, has started reinstating its services after suspending them to four customers over outstanding payments. It says it has reached an agreement with two of these customers – SAA itself and sister carrier Mango – but is still holding talks with the other two. ...
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NewsSAA suspends operations as rescuers seek to preserve finances
South African Airways has suspended all airline operations while its rescuers assess options to obtain urgent funding for the embattled flag-carrier. While the government has been claiming continuous engagement with potential funding sources, SAA’s rescue practitioners have warned of dwindling reserves, and have been keeping creditors updated over the deteriorating ...
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Airline BusinessSouth Africa’s airline sector can overcome challenges
The country has been hit hard by Covid-19, exacerbating connectivity challenges created by SAA’s retrenchment, but there is hope that the sector will recover, writes Zuks Ramasia, chief executive of the Board of Airline Representatives of South Africa
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NewsSouth African Airways will not be liquidated: government
South Africa’s government is insisting that flag-carrier South African Airways will not be liquidated, and that it will detail measures relating to funding the airline in upcoming legislation. Its department of public enterprises gave the reassurance as creditors met to discuss the airline’s future, after its rescue practitioners warned that ...
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NewsSAA creditors to meet as critical rescue funds fail to materialise
South African Airways’ rescue practitioners are to call a meeting of creditors to discuss the future of the troubled company after doubts emerged over crucial government funding for the airline’s business plan. The practitioners had warned on 10 September that procuring the funding necessary to support the plan was one ...
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NewsSAA restructuring team sifts through unsolicited investor approaches
More than 10 unsolicited approaches expressing interest in South African Airways have been received from potential investors and partners. The South African government’s department of public enterprises states that the approaches concern SAA and its subsidiaries Mango Airlines, SAA Technical, and catering arm Air Chefs. “[We have] been busy assessing ...
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NewsOpposition remains highly suspicious over SAA rescue funding
South Africa’s treasury has yet to detail how it intends to fund the rescue plan for South African Airways, as the country’s political opposition warns that it will intervene to prevent any illegitimate attempts to finance the airline’s revival. While finance minister Tito Mboweni appears to have reassured the Democratic ...
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NewsGovernment yet to clarify any funding commitment to rescue SAA
South African Airways’ state shareholder, the department of public enterprises, is claiming that the government is committing to funding the newly-agreed rescue plan for the airline, but details on the source of any financial support remain hazy. The department says the government is required to provide the rescue practitioners with ...
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NewsCreditors approve South African Airways rescue plan
Creditors have today approved a business rescue plan (BRP) for South African Airways.
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NewsGovernment tries to divide SAA pilots as creditor vote looms
South Africa’s government is appealing to individual South African Airways pilots to break from their union’s position and accept voluntary severance packages, as the beleaguered airline faces a critical creditor vote on its proposed rescue. Cockpit union SAAPA has put forward alternative proposals intended to reduce retrenchments and increase the ...
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NewsSAA pilots seeking ‘unaffordable’ staff retention: government
South African Airways pilots have sought to more than halve the proposed number of employee retrenchments, and instead retain almost 3,100 personnel for the carrier’s relaunch, according to the country’s government. But the proposal has been dismissed by the department of public enterprises, which insists it is “not prepared to ...
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NewsSAA pilots isolated as other unions gradually back severance scheme
South African Airways unions have largely indicated acceptance of voluntary severance packages as part of the airline’s rescue, after the government warned that workers’ representatives that it cannot improve on the severance offers. Cockpit union SAAPA has not followed other unions’ gradual shift into accepting the proposals, but it appears ...