Aviation: SAA reveals that Mango Airlines lost money for the 2nd time in 10years

Skytrax

Mango Airlines made a net loss of R36.9 million in the year ended March 2016, its most recent financial statements show. Fin24 was given a copy of Mango’s 2014/15 and 2015/16 annual financial results on Tuesday, after South African Airways (SAA) chairperson Dudu Myeni delivered outstanding annual financial statements of SAA’s subsidiaries to the Standing Committee on Finance. The parliamentary […]

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Aviation: Support for SAA board is vital to ensure that tourism- “the new gold” grows

Maybe I am the ultimate optimist, but I acknowledge that times of crisis are times pregnant with opportunity. The Minister of Finance announced during his Budget Speech that there is an intention to merge South African Airways and South African Express under a strengthened board. Before the Cabinet in consultation with Treasury appointed this board, it was common knowledge that […]

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Aviation: South African Airways Gets Another Bailout, SAA May Be Privatizing

aviation

Cash-strapped South African Airways has been granted a $347 million bailout in addition to the $1.04 billion that taxpayers have already paid to keep the airline going, and it could be getting funding in the form of a strategic equity partner, Eyewitness News reported. The bailout comes with conditions that the airline cuts costs. SAA is expected to achieve financial […]

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Aviation: Will South African Airways be liquidated soon?

The Democratic Alliance (DA) warned that South African Airways (SAA) faced “”imminent liquidation” and that the standing committee on finance needed to push forward its September 20 meeting with the airline to August 31 “before it collapses”. It followed the resignation of the national carrier’s head of the audit and risk committee, Yakhe Kwinana on Monday. Kwinana, a prominent member […]

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African Aviation: Accra is SAA Biggest Station in Africa even as Airline struggles

Accra, the capital city of Ghana has become the biggest hub for struggling South African Airways (SAA),which is facing numerous operational hiccups. The airline once again is in dire straits after repeatedly failing to implement a long term business plan that addresses its longstanding challenges. SAA’s previous management team, after much deliberation, put together a viable long-term business plan in […]

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