South African Airways emerging from "Business Rescue"

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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

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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/

Passenger
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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

rwandan-flyer
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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.
Rwanda Aviation News (Drones, Air Force, Civil Aviation, Space, Air Balloon): https://www.facebook.com/RwandAn-Flyer-153177931456873

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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.
André
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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.
André
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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

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

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South Africa is looking to raise about US$400 million from the sale of a stake in South African Airways – a plan likely to lower the chances of finding a partner to aid its revival. The funds would be used to re-capitalize the reformed carrier.

South Africa’s government has transferred US$98 million to administrators for South African Airways but the funds cannot be used yet, said the administrators due to issue with labour and competition laws
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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

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Another indication that South Africa is becoming a failed state:
...The Minister of Public Enterprises, Pravin Gordhan, has seemingly taken the law into his own hands and authorised the payment of R1.5 billion, of the proposed R10.5 billion taxpayer bailout to South African Airways (SAA), even before the bailout has been approved by Parliament... It seems that commercial banks and other lenders have for once done the right thing and refused to provide bridge finance to SAA. Consequently, in desperation, Minister Gordhan has supposedly forced Finance Minister, Tito Mboweni, to obtain legal advice that an amount of R3 billion of the R10.5 billion can “legally” be paid to SAA before the R10.5 billion is appropriated by Parliament....
Source - more info:
https://www.politicsweb.co.za/politics/ ... l-payment-

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

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It's becoming more and more obvious that the SAA Business Rescue Practitioners have joined the South African government (owner SAA) in their dirt play "how to scr€w SAA's staff and creditors". On Wednesday, the BRP's have given the pilots' union a 48-hour notice of a lock-out. Before Friday noon, the 383 SAAPA pilots must accept a 50% salary decrease. The new salary will then be applicable for the dismissal fees. If they will be paid, as the BRP's haven't paid salaries since April 2020. Except for their own salaries...

Both the BRP's and the (Department of Public Enterprises) have said that only 88 pilots will be needed for the 'new' SAA. But not one of those 88 has a new labour contract, so nobody from the 383 knows if they will or will not have a job with the new SAA.

Free articles:
https://www.news24.com/fin24/companies/ ... t-20201216
and
https://www.news24.com/fin24/companies/ ... s-20201217

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

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Passenger wrote: 17 Dec 2020, 12:12 The new salary will then be applicable for the dismissal fees. If they will be paid, as the BRP's haven't paid salaries since April 2020. Except for their own salaries...
South African Airways unions ask the government to intervene as they are still waiting for salaries that haven’t been paid in eight months.
André
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