All South African Airways articles – Page 5
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NewsGovernment sets aside $1bn to cover SAA guaranteed debt
South Africa’s government has set aside R16.4 billion ($1.1 billion) over the medium term for South African Airways to repay guaranteed debt and to cover debt-service costs. The national treasury has disclosed the figure in its newly-released 2020 budget review. It states that the government also anticipates that additional funding ...
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NewsAuditor general’s office details ‘dire’ state of SAA organisation
South Africa’s auditor general’s office has testified to the chaotic condition of South African Airways’ organisation during a judicial commission examining allegations of corruption and fraud in state companies. The office participated for the first time in the audit of SAA’s full-year financial statement covering 2016-17. SAA was experiencing liquidity ...
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AnalysisWhy South African Airways network cuts prove painful to implement
One thing perennial struggler South African Airways has not been short of over the years is restructuring plans. Its latest, proposed under formal restructuring, features a further retrenchment that continues the paring back of its network.
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NewsFranchise partner Airlink steps in to retain four axed SAA routes
Airlink is to continue operating in its own right four of the routes being axed by its franchise partner South African Airways at the end of the month.
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NewsSAA slashes network as it strives for profitability
South African Airways is cutting around half of its long-haul routes and almost all of its domestic network, the flag carrier’s “business rescue practitioners” have disclosed as they seek to transform it into a sustainable and profitable business.
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NewsSouth African president refers SAA allegations to special investigators
South African president Cyril Ramaphosa has authorised investigators to probe allegations of maladministration, corruption or unlawful conduct at South African Airways dating back to at least 2002. Ramaphosa’s order to refer the allegations to a special investigation unit has been disclosed in a declaration in the official government gazette. The ...
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NewsSAA secures critical funding while business rescue plan is finalised
South African Airways has secured offers from a financial institution to provide the additional critical funding necessary to bridge the period until its business rescue plan is adopted. The beleaguered flag-carrier says its business rescue practitioners have held “fruitful” discussions with the Development Bank of Southern Africa, based at Midrand ...
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NewsSAA should be retained and restructured: ruling party
South Africa’s ruling political party insists that embattled South African Airways should be restructured and retained as the country’s flag-carrier. The African National Congress made the declaration following strategy meetings of its national executive council over 17-20 January. It states that SAA should be “retained as a national airline” but ...
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NewsStruggling SAA insists flight operations are continuing
South African Airways is maintaining operations for the time being, despite apparent increasing uncertainty over the ailing flag-carrier’s financing. The airline says it is “aware” of local media reports suggesting the airline is on the verge of ceasing operations. But it insists that flights to all destinations “continue as normal”. ...
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NewsSouth African Airways to sell nine A340s as part of restructuring effort
South African Airways has put more than half of its Airbus A340 fleet and a variety of spare parts up for sale, as part of efforts to restructure following the carrier’s decision last month to voluntarily enter business rescue proceedings.
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AnalysisDo high-profile failures tell the airline story of 2019?
Collective airline profits are likely to end 2019 still relatively high by the industry’s historical performance standards, if short of their more recent peaks. But several high-profile failures mean it feels like anything but a banner year for the sector.
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NewsSAA to receive R4bn funding as part of business rescue
South African Airways is to receive a R4 billion ($273 million) in funding as part of the effort to restructure the ailing flag-carrier following its placement into business rescue.
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South African Airways to undergo 'radical' restructuring
South Africa’s government is to undertake an extensive restructuring of South African Airways, insisting that it has run out of alternative strategies for the troubled flag-carrier.
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SAA agrees conditional wage rise to end strike
South African Airways has reached a conditional agreement to end the week-long industrial action initiated by two of the carrier’s unions.
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SAA faces legal bid to force court-appointed rescue
South African trade union Solidarity is making a legal bid to have embattled flag carrier South African Airways placed under formal business rescue.
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Embattled SAA temporarily halts Hong Kong services
South African Airways is suspending its Hong Kong service for three weeks owing to losses it is incurring on the route, which have deepened as a result of the political unrest in the territory.
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South African restores more flights despite continued strike
South African Airways is resuming flights to destinations within the region, while the carrier’s domestic services are still affected by industrial action.
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SAA chief warns strikes threaten carrier's survival
South African Airways’ acting chief has warned that continued strikes will deepen the airline’s financial crisis, after flights were disrupted by industrial action.
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South African cancels flights due to strike
Strike disruption has forced South African Airlines to cancel all of its domestic and regional flights scheduled for Sunday 17 and Monday 18th November, although it will operate all of its scheduled international flights departing from Johannesburg’s Tambo airport on 17 November.
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Restructuring South African Airways looks to slash workforce
South African Airways is poised to cut close to 20% of its workforce as part of an effort to restructure the heavily loss-making carrier.