All South African Airways articles – Page 2

  • saa
    News

    Government urges support as SAA rescue faces critical creditor vote

    2020-06-25T08:23:00Z

    South African Airways’ creditors are set to decide the future of the troubled flag-carrier, more than half a year after it entered a business rescue scheme, with the government urging support for a new business plan. At least 75% support from creditor voting interests, following a meeting due to ...

  • 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 ...

  • 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 ...

  • 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 ...

  • 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 ...

  • 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 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 ...

  • 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, ...

  • 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.

  • SAA tails
    News

    Government puts R10bn aside for SAA in medium term

    2020-05-20T19:29:00Z

    South Africa’s government has provisionally set aside R3.8 billion ($212 million) for troubled flag-carrier South African Airways and another R164 million for SA Express in the current fiscal year. Department of public enterprises deputy director general Kgathatso Tlhakudi gave the figure during a 20 May presentation before the parliamentary ...

  • saa
    News

    SAA rescuers given deadline to deliver business plan

    2020-05-18T08:20:00Z

    South African Airways’ rescue practitioners have been instructed to produce a formal business plan for airline within 25 days, after a parliamentary standing committee expressed dissatisfaction with a draft publication. The standing committee on public accounts is also seeking a full schedule of fees from the practitioners, their advisers, ...

  • SAA tail
    News

    SAA practitioners spent R10bn during five-month rescue effort

    2020-05-15T20:30:00Z

    South African Airways’ business rescue practitioners spent R9.9 billion ($532 million) in the five months after they were called upon to try to save the loss-making airline. Testifying by video link to a parliamentary committee on 15 May, practitioner Siviwe Dongwana stated that the sum was used between 5 ...

  • SAA tail
    News

    SAA defies shutdown as unions claim labour court victory

    2020-05-08T17:57:00Z

    South African Airways is to continue conducting services for the time being, defying the 8 May date for cessation of operations given by the airline’s business rescue practitioners Unions are claiming a Labour Court victory after they brought a case to halt a retrenchment process for the carrier’s personnel. ...

  • SAA tails
    News

    SAA on brink as government scrambles to defer ‘drop dead’ date

    2020-05-07T14:38:00Z

    South Africa’s government is urgently trying to extend the period of operations for South African Airways after the carrier’s business rescue practitioners warned that 8 May would amount to a “drop dead” day when all flights would cease. The country’s public enterprises minister, Pravin Gordhan, outlined to a parliamentary ...

  • SAA A340 nose
    News

    Opposition heaps scorn on detail-light plan for SAA transformation

    2020-05-02T19:45:00Z

    South Africa’s political opposition is insisting the government detail an agreement with South African Airways unions setting out plans to establish a successor to the crumbling flag-carrier. In a response accusing the department of public enterprises of undermining SAA’s business rescue practitioners, the Democratic Alliance says it will seek ...

  • SAA A330
    Analysis

    How would SAA collapse affect South Africa’s airline connectivity?

    2020-04-24T13:10:00Z

    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.