All South African Airways articles – Page 3

  • Mboweni-c-RSA Parliament

    Finance 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 ...

  • SAA Technical-c-SAAT

    SAA 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. ...

  • SAA tail

    SAA 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 ...

  • Zuks-Ramasia-c-BARSA (1)
    Airline Business

    South 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

  • SAA aircraft

    South 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 ...

  • SAA A330 header

    SAA 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 ...

  • SAA A330 header

    SAA 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 ...

  • SAA A340

    Opposition 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 ...

  • SAA tail

    Government 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 ...

  • SAA A350

    Creditors approve South African Airways rescue plan


    Creditors have today approved a business rescue plan (BRP) for South African Airways.

  • SAA A330

    Government 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 ...

  • SAA A330 header

    SAA 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 ...

  • SAA A340

    SAA 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 ...

  • SAA A330 header

    SAA rescue remains uncertain as treasury highlights funding pressures


    South Africa’s government is urging creditors and unions to support South African Airways’ proposed rescue, warning that the airline’s liquidation is the worse of the options available. But the opposition Democratic Alliance believes the country’s treasury, which is having to cope with funding pressures from the coronavirus crisis, is reluctant ...

  • SAA A330 header

    SAA’s future remains in limbo as unions secure delay to rescue vote


    Decisions on the future of South African Airways have been pushed back by nearly three weeks, after three unions secured an adjournment of a crucial creditor meeting, in order to buy time to adjust the business rescue plan. The SAAPA, SACCA and NUMSA unions – representing pilots, cabin crew, and ...

  • saa

    Government urges support as SAA rescue faces critical creditor vote


    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 be ...

  • SAA tail

    Government reviewing funding proposals for restructuring SAA


    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 enterprises. ...

  • Airlink nose

    South Africa’s Airlink bids to have SAA liquidated


    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 interdicting” ...

  • SAA tails

    SAA rescue plan revises down initial heavy losses


    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 of ...

  • SAA A340 title

    SAA rescue plan sets out initial fleet and personnel requirements


    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 this ...