Corporate Affairs

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    Global airline and shipping sectors appeal to governments regarding flights for seafarers

    A joint appeal has been issued to governments by the International Air Transport Association (Iata) and the International Chamber of Shipping (ICS) for urgent steps to be taken to enable crew change flights for seafarers. As with commercial aviation ai…

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    Parliamentary Committee welcomes decision by Minister to refuse another bailout for SAA

    Parliament’s Standing Committee on Public Accounts (Scopa) welcomed, in a statement released to the media on April 15, the decision of the Minister of Public Enterprises to deny an extra funding request from the Business Rescue Practitioners (BRPs) overseeing State-owned national flag carrier South African Airways (SAA). The BRPs had asked for a further R10-billion for the airline. “Scopa believes that the decision taken by the Minister is correct as SAA cannot want its cake and eat it,” affirmed the Scopa statement. “SAA has handicapped oversight, despite the best efforts of the committee to hold the airline accountable, by insisting on only tabling financial statements once the business is a going concern.”

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    Parliamentary Committee welcomes decision by Minister to refuse another bailout for SAA

    Parliament’s Standing Committee on Public Accounts (Scopa) welcomed, in a statement released to the media on April 15, the decision of the Minister of Public Enterprises to deny an extra funding request from the Business Rescue Practitioners (BRPs) overseeing State-owned national flag carrier South African Airways (SAA). The BRPs had asked for a further R10-billion for the airline. “Scopa believes that the decision taken by the Minister is correct as SAA cannot want its cake and eat it,” affirmed the Scopa statement. “SAA has handicapped oversight, despite the best efforts of the committee to hold the airline accountable, by insisting on only tabling financial statements once the business is a going concern.”

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    Research company claims SAA doomed to liquidation in near future

    Capital markets and financial services research company Intellidex reported on April 14 that State-owned national flag-carrier South African Airways (SAA) was now set for liquidation. Intellidex head of Capital Markets Research Peter Attard Montalto affirmed that liquidation had been “inevitable” but its timing had been unclear because the Department of Public Enterprises had tried to keep the airline alive while the National Treasury (NT) had sought to “kill it off”. “NT has won and this is a rare piece of positive news,” he wrote. “Government (i.e. NT) has denied all requests by the business rescue practitioners [BRPs] for more money and permission to borrow (including in hard currency). There are simply no other options left with banks also saying no, and guarantees not available for other forms of lending.”

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    Research company claims SAA doomed to liquidation in near future

    Capital markets and financial services research company Intellidex reported on April 14 that State-owned national flag-carrier South African Airways (SAA) was now set for liquidation. Intellidex head of Capital Markets Research Peter Attard Montalto affirmed that liquidation had been “inevitable” but its timing had been unclear because the Department of Public Enterprises had tried to keep the airline alive while the National Treasury (NT) had sought to “kill it off”. “NT has won and this is a rare piece of positive news,” he wrote. “Government (i.e. NT) has denied all requests by the business rescue practitioners [BRPs] for more money and permission to borrow (including in hard currency). There are simply no other options left with banks also saying no, and guarantees not available for other forms of lending.”

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    Outlook for world’s airlines even worse than previously thought

    The International Air Transport Association (Iata) reported on April 14 that its latest analysis of the impact of the Covid-19 pandemic on airlines’ passenger revenues is that it will be even more severe than previously forecast. On March 24, Iata predicted that airline passenger revenues this year would be $252-billion, or 44%, down on the figure for 2019. Now the association estimates that the fall will be $314-billion or 55%.

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    Outlook for world’s airlines even worse than previously thought

    The International Air Transport Association (Iata) reported on April 14 that its latest analysis of the impact of the Covid-19 pandemic on airlines’ passenger revenues is that it will be even more severe than previously forecast. On March 24, Iata predicted that airline passenger revenues this year would be $252-billion, or 44%, down on the figure for 2019. Now the association estimates that the fall will be $314-billion or 55%.

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    Outlook for world’s airlines even worse than previously thought

    The International Air Transport Association (Iata) reported on April 14 that its latest analysis of the impact of the Covid-19 pandemic on airlines’ passenger revenues is that it will be even more severe than previously forecast. On March 24, Iata predicted that airline passenger revenues this year would be $252-billion, or 44%, down on the figure for 2019. Now the association estimates that the fall will be $314-billion or 55%.

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    Cape Town Container Terminal acquires four new straddle carriers

    The Cape Town Container Terminal (CTCT) – one of 19 Transnet Port Terminals (TPT) – has acquired four new-generation straddle carriers. The investment is aimed at mitigating against the impact of windy weather on its operations.

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    Cape Town Container Terminal acquires four new straddle carriers

    The Cape Town Container Terminal (CTCT) – one of 19 Transnet Port Terminals (TPT) – has acquired four new-generation straddle carriers. The investment is aimed at mitigating against the impact of windy weather on its operations.

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