All Africa news – Page 37
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NewsFastjet negotiates loan as liquidity squeeze continues
African budget operator Fastjet Group has negotiated a $600,000 loan and is holding discussions to obtain creditor discounts to reduce its liabilities. The loan – initially for a six-month term – has been obtained from shareholder Solenta Aviation Holdings to provide working capital and liquidity while Fastjet’s operations are suspended ...
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NewsComair expects to remain grounded until at least October
South Africa’s Comair is in “a very difficult financial position” due to coronavirus-related travel restrictions and does not anticipate being able to resume flights until October or November, the carrier has disclosed.
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Airline BusinessHow would SAA collapse affect South Africa’s airline connectivity?
If South African Airways fails to find a way through its current funding crisis, it could leave a big hole in its home country’s connectivity, depending on which routes are considered viable as coronavirus restrictions are lifted.
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NewsSAA left with no options but wind-down or liquidation: rescue practitioners
South African Airways’ business rescue practitioners have warned that the exhaustion of funding to draw up a rescue plan for the flag-carrier has left them with two stark options for the airline. The practitioners state that they are facing the choice of attempting to secure a better return for SAA’s ...
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NewsFastjet sells ERJ-145 to Solenta to offset maintenance debt
African budget operator Fastjet Group has sold a dormant Embraer ERJ-145 to Solenta Aviation in a deal to reduce debts owed for maintenance work within Fastjet’s Zimbabwean division. The ERJ-145 had been used for Fastjet’s operations in Mozambique before the company suspended services in the country last year. Fastjet Group ...
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NewsAir Mauritius files for voluntary administration
Struggling Air Mauritius has entered voluntary administration after the board resolved that with coronavirus grounding it would not be able to meet its financial obligations in the foreseeable future.
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NewsSouth African government presses unions for concessions to rebuild SAA
South Africa’s government is pressing unions to avert a collapse of South African Airways and ensure that the business rescue strategy results in the emergence of a more competitive carrier. It has asked unions to submit proposals on restructuring the carrier and, in particular, details on the future of jobs. ...
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NewsFirst Nigerian Super Tucano conducts maiden sortie
The first A-29 Super Tucano due for delivery to the Nigerian air force has conducted its maiden flight from Jacksonville, Florida.
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Airline BusinessCoronavirus crisis threatens to push South African carriers over the edge
While the coronavirus pandemic has had a wide-ranging impact across African carriers, the timing of the crisis has been particularly calamitous for South Africa’s struggling airline sector.
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NewsFastjet poised to renegotiate divestment of Zimbabwean division
Fastjet Group is to hold discussions on potential amendments to the terms of its planned disposal of its Zimbabwean operation, given the financial impact of measures taken to combat the coronavirus outbreak. Investors led by Solenta Aviation Holdings had been planning to acquire the operation before the crisis, and Fastjet ...
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NewsFastjet’s FedAir division slashes fleet as safari market dries up
Fastjet Group’s Federal Airlines division has entered a restructuring process and given up most of its aircraft after a severe downturn in its business conducting shuttle and charter services to safari reserves in southern Africa. FedAir primarily serves US and European tourists but the coronavirus situation has badly affected these ...
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NewsOff-centre landing damaged Turkish A330 undercarriage
Nigerian investigators have disclosed that a Turkish Airlines Airbus A330-300 suffered damage after travelling partially off the runway for a distance of some 400m following a landing at Port Harcourt. The aircraft (TC-LOL), arriving from Istanbul at night on 30 December last year, had been established on the localiser for ...
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NewsComair drops Star Air acquisition as challenges deepen
South African carrier Comair has agreed to call off its planned acquisition of aircraft leasing specialist Star Air Cargo and Star Air Maintenance as it battles mounting challenges.
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NewsInterim chief Mzimela leaves struggling SA Express
Interim chief executive Siza Mzimela is leaving SA Express after 18 months in the role at the challenged South African regional carrier.
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NewsSouth African Airways acting chief takes early retirement
South African Airways acting chief executive Zuks Ramasia will retire on 14 April, less than a year after assuming the position.
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NewsSouth African shutdown heaps pressure on bedevilled Fastjet
African budget carrier Fastjet, already under substantial financial pressure, is having to cope with the additional burden of the coronavirus outbreak after the South African and Zimbabwean governments imposed travel restrictions. Fastjet Group, which has been working to sell its Zimbabwean arm, says the South African government is locking down ...
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NewsSouth African Airways suspends all international services
South African Airways is immediately cancelling all international services until the end of May.
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NewsRwandAir to suspend operations for 30 days
RwandAir will temporarily halt all services from 21 March to 21 April, as its looks to help prevent the spread of coronavirus. The African carrier will operate its last commercial passenger flight from Rwandan capital Kigali to London Gatwick on 20 March at 01:00. The return service will depart from ...
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NewsPressured SA Express suspends services until further notice
South African regional carrier SA Express is suspending operations until further notice, in response to various pressures on the airline. While it mentions the impact of the coronavirus outbreak, SA Express indicates this is only one consideration behind its decision, attributing the suspension to “adverse recent developments”. The airline had ...
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NewsFragile Fastjet aims for Zimbabwe carrier sale in April
African operator Fastjet Group expects to meet all preconditions, by the end of March, for divesting its Zimbabwean division and complete the transaction in April. It says participants of an investor consortium led by Solenta Aviation Holdings remain “committed” to the acquisition of Fastjet Zimbabwe under previously-agreed terms. Fastjet Group ...