All Africa articles – Page 5

  • Comair Kulula
    News

    Investment consortium aims to restart Comair in December

    2020-09-03T11:34:00Z

    South African carrier Comair’s business rescue plan envisages a consortium of investors taking a 99% shareholding in the company, and restarting services around 1 December. Some 1,800 jobs will be retained – although 400 will be shed – and the airline will resume operations with a fleet of 25 ...

  • Muscat airport
    News

    Arab carrier traffic seen not back to pre-crisis levels until at least 2024

    2020-09-01T16:50:00Z

    Traffic among Arab air carriers is not now expected to return to pre-crisis levels until at least 2024 and could potentially not reach those levels before 2027, fresh analysis from the Arab Air Carriers Organisation (AACO) shows. In its third status report of the impact of the pandemic on ...

  • Atlas Air Qantas Freight 747-8F
    News

    Air cargo traffic stabilises in July as capacity crunch continues

    2020-09-01T15:14:00Z

    Air cargo traffic was stable in July but demand continues to be constrained by the lack of bellyhold capacity, according to the latest monthly report from IATA. Figures from the airline association show that demand in cargo tonne kilometre (CTK) terms fell by 13.5% year on year in July. ...

  • Comair 737
    News

    Comair receives binding offer as it finalises business plan

    2020-08-30T15:37:00Z

    South African carrier Comair’s rescue practitioners have received a binding offer from the preferred investors for the company. As a result, the practitioners are seeking creditors’ consent for a further extension to the deadline to publish the business rescue plan for the operator. Comair, which operates as a ...

  • Kenya Airways Embraer 190shutterstock_1618404946
    News

    ​Kenya Airways weighs cuts to ensure sustainable future

    2020-08-28T15:41:00Z

    Kenya Airways is evaluating fleet, network and staff cuts to adapt to dramatic reductions in customer demand.

  • SAA A330 header
    News

    SAA restructuring team sifts through unsolicited investor approaches

    2020-08-24T10:25:00Z

    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 ...

  • Fastjet tail
    News

    Fastjet shareholder provisionally agrees financial support

    2020-08-20T17:14:00Z

    African budget operator Fastjet Group has obtained a commitment from its main shareholder, Solenta Aviation Holdings, to underwrite a capital raise of at least $1.5 million, providing the company with much-needed funding. Fastjet Group has been struggling with dwindling cash resources as it copes with flight restrictions in Zimbabwe ...

  • Fastjet
    News

    Fastjet Group to delist and convert to private company

    2020-08-12T10:10:00Z

    African budget operator Fastjet Group expects to re-register as a private company by mid-September after shareholders overwhelmingly approved a delisting from the stock exchange. The company will “proceed with the cancellation of trading” of its ordinary shares on the London AIM exchange on 24 August. Shareholders voted on ...

  • Air Arabia Airbus A321
    News

    Air Arabia dragged to half-year loss as second quarter revenues collapse

    2020-08-10T15:52:00Z

    Air Arabia recorded a net loss of Dhs239 million ($65 million) in the second quarter as the pandemic virtually wiped out passenger revenues during the period and dragged the low-cost carrier into the red for the first-half.

  • UN An-74
    News

    An-74 suffered generator failure before Gao overrun

    2020-08-07T07:50:00Z

    Preliminary details of the Utair Cargo Antonov An-74 landing accident at Gao in Mali indicate the aircraft suffered an extensive electrical failure before the touchdown and overrun. Russian federal air transport regulator Rosaviatsia states that the generator of the right-hand Progress D-36 engine failed during the 3 August flight ...

  • Airline recovery tracker
    In depth

    Airline coronavirus recovery tracker: August 2020 update

    2020-08-05T11:29:00Z

    Our regular examination of the latest global data for several key airline market indicators, including traffic and capacity in passenger and cargo markets, airport passenger throughput, in-service and stored fleets, jet fuel costs, and share price trends for the world’s largest groups.

  • UN An-74
    News

    UN An-74 badly damaged in Mali landing accident

    2020-08-03T19:44:00Z

    One of Utair Group’s freighter aircraft, an Antonov An-74 TK-100, has been substantially damaged in an accident at Gao in eastern Mali. The United Nations Multidimensional Integrated Stabilisation Mission in Mali – known as MINUSMA – says the aircraft was landing at Gao after arriving from the capital, Bamako, ...

  • Comair 737 Max 8
    News

    Comair business plan pushed back as rescuers work to firm up offers

    2020-07-28T17:07:00Z

    South African carrier Comair’s rescue practitioners have disclosed that a potential deal with an interested consortium has fallen through, but are pushing back publication of a business plan to provide time to consider other approaches. Publication of the business plan had been due on 28 July after an expression ...

  • Freight loading
    News

    Air cargo decline narrows in June but market ‘exceptionally challenging’

    2020-07-28T15:13:00Z

    Air freight traffic declines showed some signs of improving in June but business remains “exceptionally challenging”, according to the latest IATA market wrap-up.

  • Fastjet tail
    News

    Fastjet seeks stock market delisting in bid to maintain crucial funding

    2020-07-27T08:38:00Z

    African operator Fastjet Group is planning to delist from the stock market and register as a private company, as a condition of securing further support from key shareholder Solenta Aviation Holdings. Fastjet is listed on London’s Alternative Investment Market. But it says there is “considerable” cost and time involved ...

  • De Oliveira
    Interview

    New chief has big plans for ACI, but crisis recovery comes first

    2020-07-22T13:44:00Z

    The new director general of airports body ACI World has grand plans to increase the profile and reach of the organisation – but knows he must first oversee the industry’s recovery from an unprecedented crisis, as the coronavirus pandemic halves passenger traffic in 2020. “The short-term [goal] is of ...

  • Ethiopian 777F
    News

    Ethiopian 777F suffers major fire in Shanghai

    2020-07-22T08:52:00Z

    An Ethiopian Airlines Boeing 777F has caught fire at Shanghai Pudong airport while cargo was being loaded. The carrier says in a statement that the aircraft is registered ET-ARH and was on a regular scheduled cargo service from Shanghai Pudong to Sao Paolo, and onward to Santiago. Videos ...

  • Comair 737
    News

    Comair rescue attracts several expressions of interest

    2020-07-21T12:09:00Z

    Four expressions of interest have been received by advisers to South African carrier Comair’s business rescue process. The company’s rescue practitioners state that the adviser, Redford Capital, has received 19 signed confidentiality agreements having “engaged” with 47 parties since the process began. Comair was placed under business rescue ...

  • SAA A340
    News

    Opposition remains highly suspicious over SAA rescue funding

    2020-07-21T10:52:00Z

    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 ...

  • SAA tail
    News

    Government yet to clarify any funding commitment to rescue SAA

    2020-07-16T10:15:00Z

    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 ...