3 FEBRUARY 2020

YOUR WORDS


Readers are invited to add their comments to any story. Click on the article to see and add.

BTN DISTRIBUTION

BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.

Index

Email this Page
Bookmark

The Business Travel News
PO Box 758
Edgware HA8 4QF
United Kingdom
+44 (0)20 8952 8383
info@btnews.co.uk
© 2020 Business Travel News Ltd.

Article from BTNews 3 FEBRUARY 2020

SAA drops 100 flights

Nearly 100 domestic and international flights are being scrapped by South African Airways (SAA) this month to reduce costs, despite the airline having just received R.3.5bn (about £185m) from the state-owned Development Bank to avoid financial collapse.

The struggling carrier, which has not made a profit since 2011, was pushed to the brink of bankruptcy after a strike by thousands of its staff in December and placed in a state-approved rescue plan as a last-ditch bid to save it.

On the cancellations, the company said: "Flight demand has been scrutinised to ensure SAA is running efficient flights. SAA will therefore cancel and consolidate selected scheduled flights where there is low demand based on current forward bookings for the month of February."

The team working to rescue the airline said it would immediately draw down R2bn from the latest cash injection. The body has until the end of this month to provide a turnaround plan, but ministers are said to be reluctant to commit further state funds.

Options for the funding needed for restructuring the airline after the plan is adopted are under consideration, according to the business rescue team, with finding an equity partner and preserving jobs remaining the key priorities, it said.

www.flysaa.com

Index/Home page
 

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum


No one has commented yet, why don't you start the ball rolling?


Add your comment

First Name
Surname
Email Address
Company (Not obligatory)
Country/City
Comment
- You must be a registered subscriber using the email address entered to submit a comment, or you will be sent a confirmation email before your comment will appear.
- Your comment will be checked before appearing, which may take several working hours.
www.btnews.co.uk