Corporate Affairs

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    SAA will not be resuming flights just yet, say BRPs

    A press statement issued this week, which suggests that South African Airways (SAA) will resume domestic services by mid-June, is “incorrect” and in violation of SAA’s business rescue practitioners’ (BRP’s) communications protocol. The protocol was put in place to ensure that unvetted releases are not issued.

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    Iata reports that global airline debt as ballooned as a result of Covid-19 measures

    In its latest briefing regarding the impact of the Covid-19 pandemic (and the near total halt in commercial air passenger traffic to help try and contain it) on the global airline industry, the International Air Transport Association (Iata) has reported that it expected global airline debt to jump by 28% by the end of this year, in comparison to the start of this year. In numbers, this increase would come to nearly $120-billion, taking the global airline industry’s debt burden to almost $550-billion. This was because, around the world, over half of government aid to airlines would have to be repaid. Airlines had also been raising funds through commercial borrowing, to a total so far of $52-billion.

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    Iata reports that global airline debt as ballooned as a result of Covid-19 measures

    In its latest briefing regarding the impact of the Covid-19 pandemic (and the near total halt in commercial air passenger traffic to help try and contain it) on the global airline industry, the International Air Transport Association (Iata) has reported that it expected global airline debt to jump by 28% by the end of this year, in comparison to the start of this year. In numbers, this increase would come to nearly $120-billion, taking the global airline industry’s debt burden to almost $550-billion. This was because, around the world, over half of government aid to airlines would have to be repaid. Airlines had also been raising funds through commercial borrowing, to a total so far of $52-billion.

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    SAA getting ready to restart domestic flying

    State-owned national flag carrier South African Airways (SAA) is making preparations for the resumption of domestic air flights, between Johannesburg and Cape Town. It is seeking to be operationally ready for the the restart of this route in the middle of next month, should this be authorised. However, the airline is also, with immediate effect, cancelling all its regional and international services until the end of next month. This is because of the widespread international restrictions on air travel, imposed to counter the Covid-19 pandemic. Such restrictions make it impossible to sustainably resume flights beyond the country’s borders.

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    SAA getting ready to restart domestic flying

    State-owned national flag carrier South African Airways (SAA) is making preparations for the resumption of domestic air flights, between Johannesburg and Cape Town. It is seeking to be operationally ready for the the restart of this route in the middle of next month, should this be authorised. However, the airline is also, with immediate effect, cancelling all its regional and international services until the end of next month. This is because of the widespread international restrictions on air travel, imposed to counter the Covid-19 pandemic. Such restrictions make it impossible to sustainably resume flights beyond the country’s borders.

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    Transnet reports recovery in some units, but still expects big Covid-19 revenue hit

    State-owned freight logistics group Transnet reports that there has been a recovery in some of its operations since the easing of lockdown restrictions and is increasing tending towards an “optimistic” recovery scenario for many of its units – a scenario that assumes a ramp-up to full operations by January 2021 and a revenue reduction of R6-billion for the financial year. The scenario was one of three outlined by CEO Portia Derby during a presentation to lawmakers in early May, with the other two labelled as ‘realistic’ and ‘pessimistic’ and representing revenue reductions of greater than R14-billion for the year.

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    Transnet reports recovery in some units, but still expects big Covid-19 revenue hit

    State-owned freight logistics group Transnet reports that there has been a recovery in some of its operations since the easing of lockdown restrictions and is increasing tending towards an “optimistic” recovery scenario for many of its units – a scenario that assumes a ramp-up to full operations by January 2021 and a revenue reduction of R6-billion for the financial year. The scenario was one of three outlined by CEO Portia Derby during a presentation to lawmakers in early May, with the other two labelled as ‘realistic’ and ‘pessimistic’ and representing revenue reductions of greater than R14-billion for the year.

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    BRPs granted leave to appeal interdict against retrenchments at SAA

    The Labour Court, sitting in Johannesburg, has granted the Business Rescue Practitioners (BRPs) for financially-beleaguered State-owned national flag carrier South African Airways (SAA) leave to appeal against the whole of a Labour Court judgment hande…

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    BRPs granted leave to appeal interdict against retrenchments at SAA

    The Labour Court, sitting in Johannesburg, has granted the Business Rescue Practitioners (BRPs) for financially-beleaguered State-owned national flag carrier South African Airways (SAA) leave to appeal against the whole of a Labour Court judgment hande…

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    Leading aerospace journal suggests that the A380 Superjumbo is doomed

    Renowned British aviation weekly Flight International has opined, in its latest edition, that the Airbus A380 Superjumbo airliner is already “heading for the scrapyard”, even though it entered service only a little more than ten years ago. This was despite its popularity with passengers, for whom it provided an “unrivalled” experience. Air France has already announced (on May 20) that it was retiring its A380 fleet with immediate effect (instead of, as originally planned, in 2022). It had grounded its Superjumbos on March 16 as a result of the collapse in international air travel caused by the Covid-19 pandemic (it had already announced that it would replace its A380s with latest-generation Airbus A350-900 airliners).

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