All Africa news – Page 9

  • SAA tail
    News

    Government reviewing funding proposals for restructuring SAA

    2020-06-24T09:30:00Z

    South Africa’s government is claiming to have received a number of unsolicited proposals to fund a new national airline in the aftermath of South African Airways’ business rescue process. These proposals have been received from private-sector funds, equity investors, and potential airline partners, says the government’s department of public ...

  • Comair 737
    News

    Comair rescuers seek time to consider funding offer

    2020-06-23T08:47:00Z

    South African carrier Comair’s rescue practitioners are exploring a potential offer of funding for the airline, and are seeking a further postponement to publication of a business plan. The practitioners have not identified the group behind the non-binding expression of interest. But they state that the offer of ...

  • Airlink nose
    News

    South Africa’s Airlink bids to have SAA liquidated

    2020-06-22T08:58:00Z

    South African carrier Airlink is attempting to disrupt plans to convene a creditors’ meeting to discuss whether to approve the rescue plan for South African Airways, and is seeking to have the airline liquidated. The government’s department of public enterprises says Airlink has filed a court motion “aimed at ...

  • SAA tails
    News

    SAA rescue plan revises down initial heavy losses

    2020-06-21T09:55:00Z

    South African Airways’ final business rescue plan considerably revises down the losses projected over the first three years for the restructured carrier. While a draft plan circulated at the beginning of June indicated losses close to R20 billion ($1.1 billion) for the period, the final plan estimates pre-tax losses ...

  • SAA A340 title
    News

    SAA rescue plan sets out initial fleet and personnel requirements

    2020-06-19T20:39:00Z

    South African Airways’ resurrection plan would involve an initial restart period of eight months, running to January 2021. Over this period the fleet would be gradually built up to around 26 aircraft, comprising seven long-haul jets – about half of which would be in place at the end of ...

  • SA Express CRJ
    News

    SA Express liquidation on hold as several potential investors emerge

    2020-06-18T10:35:00Z

    Provisional liquidators of South African regional carrier SA Express are attempting to find a buyer for the airline, claiming that they are engaging with six or seven parties which have expressed interest in the company. Their effort follows court approval on 15 June to extend their powers, in order ...

  • SAA tail
    News

    Government unsure over SAA plan as opposition demand carrier’s liquidation

    2020-06-17T22:46:00Z

    South Africa’s government has expressed doubts as to whether the long-awaited business rescue plan for South African Airways will meet its expectations for creating a viable and sustainable national carrier. Publication of the plan has also drawn condemnation from the opposition Democratic Alliance party, which says the strategy relies ...

  • Air Namibia
    News

    Loss-making Air Namibia should be liquidated: president

    2020-06-12T11:58:00Z

    Air Namibia should be liquidated, the Namibian president has declared following an address to the country, a suggestion which has met objection from unions. President Hage Geingob was answering questions in the parliament building in Windhoek after delivering his state-of-the-nation speech on 4 June. The loss-making airline had ...

  • SAA tails
    News

    External carriers should be handed repatriation services: South African opposition

    2020-06-10T13:26:00Z

    South Africa’s shadow public enterprises minister is insisting that the government ease air transport pressures by allowing other operators to conduct repatriation services. Ghaleb Cachalia, from the opposition Democratic Alliance party, argues that South African Airways – which has been mired in a drawn-out business rescue process – does ...

  • SAA tails
    News

    SAA unions force further delay to business plan publication

    2020-06-08T08:52:00Z

    South African Airways’ rescuers are seeking creditors’ approval for a further postponement to the deadline for publishing a business plan for the embattled flag-carrier. The rescue practitioners have previously secured four extensions to deadlines for publishing a plan – the most recent to 8 June – since SAA entered ...

  • B737-8-comair-2-c-Boeing-640
    News

    Comair to cut fleet and remain inactive until November

    2020-06-03T09:29:00Z

    South African carrier Comair requires a substantial cash injection and is unlikely to resume operations until at least November. Its fleet will also be reduced to 16 aircraft, comprising 13 Boeing 737-800s and three spare 737-400s. The airline’s business rescue practitioners have outlined the situation to creditors and ...

  • SAA and EgyptAir at Johannesburg airport in March 2019 shutterstock_1737560327
    In depth

    Coronavirus pushes fragile African carriers closer to the edge

    2020-06-02T15:14:00Z

    While no region has escaped the impact of the coronavirus grounding, arguably its most immediate damage has been felt among Africa’s already struggling carriers.

  • SAA A350
    News

    South African carriers urge system stress-test to speed recovery

    2020-06-02T06:59:00Z

    South African carriers are urging the government to stress-test the early restoration of domestic air services, to quicken the introduction of an expanded route network. Operators have been forced to suspend services after South Africa entered a national lockdown on 26 March. The government’s coronavirus response plan entered ...

  • SAA A340
    News

    SAA draft rescue plan signals termination of half its fleet leases

    2020-06-01T19:19:00Z

    South African Airways’ rescuers are terminating leases on nearly half the airline’s 40 leased aircraft, while those on another 15 have been undergoing renegotiation. The carrier had a fleet of 49 jets when it entered the business rescue process on 5 December last year, including nine A340-300s and -600s ...

  • E190-E2-Congo-Airways-Embraer 052620
    News

    Congo Airways eyes expansion within Africa as competitors struggle

    2020-06-01T14:23:00Z

    Congo Airways’ decision to swap orders for Embraer 175s to larger E190-E2s party reflects an effort by the company to expand on routes previously served by financially struggling competitor South African Airways (SAA).

  • SAA tail
    News

    Draft plan indicates restructured SAA would lose R20bn in first three years

    2020-06-01T11:50:00Z

    Preliminary projections for a restructured South African Airways indicate the carrier would lose close to R20 billion ($1.1 billion) over the first three years, before it started turning a profit. The operation would have a fleet of 40 aircraft, according to a draft business plan obtained by the country’s ...

  • SAA tail
    News

    SAA rescuers request time to consult on government proposals

    2020-05-29T11:03:00Z

    South African Airways’ rescue practitioners are seeking an extension to the deadline for publishing a business plan for the troubled flag-carrier. Under South African legislation a business plan is normally required within 25 days of a company entering business rescue, but extensions can be granted if necessary. SAA, ...

  • Kenya Airways Embraer 190shutterstock_1618404946
    News

    Kenya Airways losses widen in 2019 on higher costs

    2020-05-27T17:31:00Z

    Kenya Airways pre-tax losses deepened to KSh13 billion for the year ending December 2019 despite increasing passenger levels and revenues.

  • SAA A340
    News

    Administrators see ‘reasonable’ prospect of SAA rescue

    2020-05-27T16:45:00Z

    Business rescue practitioners at South African Airways describe as “reasonable” the prospects of rescuing the struggling carrier, though stress this is dependent on the necessary funding.

  • SAA A330
    News

    ​SAA rescuers pour cold water on plan to resume domestic flights

    2020-05-27T10:03:00Z

    South African Airways’ plan to restart domestic flights in mid-June has been called into question by its rescuers, who have criticised the airline for releasing an “unvetted” public statement that created an “unfair expectation” among stakeholders.