South African Airways in "Business Rescue" as from 05 Dec 2019

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TLspotting
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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

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South African Airways is on the ground, suspending its operations.
Hi. I'm Thibault Lapers. @ThibaultLapers & @TLspotting

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luchtzak
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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

Post by luchtzak »

TLspotting wrote: 30 Sep 2020, 13:40 South African Airways is on the ground, suspending its operations.
South African Airways suspends its operations amid lack of funding: https://www.aviation24.be/airlines/sout ... f-funding/

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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

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luchtzak wrote: 30 Sep 2020, 14:22
TLspotting wrote: 30 Sep 2020, 13:40 South African Airways is on the ground, suspending its operations.
South African Airways suspends its operations amid lack of funding: https://www.aviation24.be/airlines/sout ... f-funding/
Official notification:
https://matusonassociates.co.za/wp-cont ... 2020-1.pdf

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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

Post by rwandan-flyer »

As an African Aviation lover, this is the kind of information that I did not want to see, especially for a airline like SAA, which is (finally) was a locomotive of the Air Transport, in Africa. But, that's the only solution for the moment. Hoping that the new SAA will be better managed.

Between the end of the 90s and the end of the 2000s, SAA was the big company on the continent, and had a very pan-African outlook. However, everything did not work:

Air Afrique
Air Rwanda / Alliance Express Rwanda
Air Tanzania
Air Cemac (never took off)
"small crew base" long haul in Dakar, for flights to USA, (Dkr-Atlanta, Dkr-New York- Dkr-Washington) and code share with Air Senegal International, on the Johannesburg-Dakar and partnership, on the African network, of Air Senegal. In 2000s, ASI was one of the best managed African airlines with the help of Royal Air Maroc.
etc ...

Only Royal Air Maroc (Air Senegal International, Gabon Airlines, Air Cemac) and Ethiopian Airlines (Asky, Malawian Airline, Tchadia Airlines, Ethiopian Airlines Mozambique, the new Zambia Airways) can be considered as airlines, with a pan-African vision.

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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

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Ethiopian Airlines Group is willing to provide planes, pilots and maintenance services to South African Airways as part of a joint venture with that country’s government. Ethiopian isn’t interested in helping with debt repayments or the cost of reducing the workforce.

South African Airways Technical has reached an agreement with its customers and has begun to reinstate aircraft maintenance services to some of its customers.
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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

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sn26567 wrote: 05 Oct 2020, 20:47 Ethiopian Airlines Group is willing to provide planes, pilots and maintenance services to South African Airways as part of a joint venture with that country’s government. Ethiopian isn’t interested in helping with debt repayments or the cost of reducing the workforce.

South African Airways Technical has reached an agreement with its customers and has begun to reinstate aircraft maintenance services to some of its customers.

Ethiopian Airlines outlines SAA offer from Addis Ababa

But Africa’s biggest airline isn’t interested in helping with SAA debt.

The Ethiopian Airlines Group says it’s willing to provide planes, pilots and maintenance services to beleaguered national carrier South African Airways (SAA) as part of a joint venture with the government.

Africa’s biggest airline is further offering operational assistance, Chief Executive Officer Tewolde Gebre Mariam said during an interview from the Ethiopian capital Addis Ababa.

https://www.thesouthafrican.com/news/et ... dis-ababa/

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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

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Fly SAX (South Africa) wants to only purchase SA Express flight routes, landing rights and aviation-related licenses. The offer excludes SA Express assets, including its aircraft fleet, engine parts and spares for the aircraft, which will be sold through a public auction in November 2020. Fly SAX is required to secure funding to proceed.
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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

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The South African minister of Finance has allocated 540M EUR (10,5Bn ZAR) to SAA.

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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

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Passenger wrote: 28 Oct 2020, 14:29 The South African minister of Finance has allocated 540M EUR (10,5Bn ZAR) to SAA.
Official confirmation (valid till the next official announcement on SAA):
https://www.gov.za/speeches/saa-funding ... -2020-0000

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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

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South African Airways aircraft lessors and some creditors will not be covered by a US$665 million government bailout, say SAA’s administrators. For lessors and other creditors, a $145 million is due later.
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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

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Ethiopian Airlines Group is in early-stage talks over plans to help manage South African Airways and expects to submit a proposal to the bankrupt carrier this week.
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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

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Hi. I'm Thibault Lapers. @ThibaultLapers & @TLspotting

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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

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South Africa could offer to sell shares in South African Airways to the public as part of a new plan to revive the carrier. Various parts of the Group, including Mango and SAA Technical, would be co-owned by the state, pension funds, individual investors and an operational partner.
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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

Post by Homo Aeroportus »

Only a few hours left.

"You can now own SAA toothpicks, wine and toilet paper as airline auctions off stock"
https://www.news24.com/fin24/companies/ ... k-20201118

Bidding closes on November 26, 10h30.
Hurry up :lol:

H.A.

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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

Post by sn26567 »

Homo Aeroportus wrote: 25 Nov 2020, 19:18 Only a few hours left.

"You can now own SAA toothpicks, wine and toilet paper as airline auctions off stock"

H.A.
Who needs toilet paper after two lockdowns? Doesn't everyone have enough for the next 10 years? :lol:
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