South African Airways sull'orlo della bancarotta

mcsl

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Peccato. Ho viaggiato 6 volte con loro nello scorso mese e ho visto grande professionalità cortesia e puntualità.
 

13900

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SAA è un'Alitalia all'n-esima potenza. Una delle poche compagnie aeree in grado di farsi fregare praticamente da tutti per i contratti di fornitura (la cifra che pagano per parcheggiare due A330/340 a LHR è fuori di testa), e una compagnia in cui si entra solo se si ha la tessera 'giusta', quella del partito di governo. E' un peccato, specialmente se la si confronta con Comair/Kulula, in cui sono confluiti molti fuoriusciti da SAA che non avevano santi in paradiso.
 

AZ209

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Aggiornamento, urgono altri $400+ milioni per far sopravvivere SAA e SA Express per i prossimi 6 mesi.
Il Ministro delle Finanze sudafricano ha annunciato che quasi tutte le rotte regionali e nazionali producono utili mentre dovranno ridurre o chiudere le rotte internazionali che producono perdite.

Fresh bailouts for SAA and SA Express

South Africa's treasury has earmarked a further R5 billion ($349 million) to help the nation's struggling flag carrier to settle maturing debt over the next six month, as well as R1.2 billion support for a state-owned regional airline.
The cash injections for South African Airways and SA Express were confirmed in a mid-term budget presentation today by finance minister Tito Mboweni, who warned that despite progress in cutting losses, more restructuring work was needed.
Loss-making SAA has long struggled amid high debts, boardroom battles and political wrangling. The airline has now embarked on fresh restructuring under the leadership of Vuyani Jarana, installed as its first permanent chief executive for almost two years in November 2017.
Mboweni flags the progress of the restructuring effort at the Star Alliance carrier. "In the past year, almost all of the regional and domestic routes operated by South African Airways have become profitable. SAA will reduce and ultimately stop operating loss-making international routes. SAAprocurement has unlocked annual cost savings of R400 million [$107 million]," he says.
"Despite these efforts, SAA is still loss-making and even more radical measures need to be undertaken. There should be no holy cows!
"To support a sustainable reconfiguration of our airline portfolio, in 2018/19 government will provide additional funding for SAA and South African Express Airways," he says.
The budget statement notes that SAA has a R19.1 billion government guarantee, R14.5 billion of which has been used. Debt of R14.2 billion is maturing in or before March 2019. The government will in 2018/19 allocate R5 billion to help the airline repay this debt and prevent a call on its outstanding debt.
R1.2 billion has been allocated to SA Express.
That airline has likewise been struggling. Public enterprise minister Pravin Gordhan in May indicated that SA Express was likely to require a recapitalisation. Later that month, the airline was grounded following a safety audit by the national aviation regulator. Former chief Siza Mzimela has since been installed to lead the carrier on an acting basis, and SA Express began restoring flights in August.
SAA has required a series of government bailouts to continue operations over recent years as a result of its heavy debt burden.
In announcing the latest cash injections, Mboweni says he is working closely with Gordhan to "limit" the fiscal cost of supporting the two state-owned airlines. "By the end of the year, the boards of these two companies will present plans to strengthen and align their operations," he says.
In April, SAA disclosed a full-year net loss of R5.67 billion ($463 million) for 2016/17, but projected it would break even in the 2019/20 financial year, before becoming profitable. FG

 

leerit

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Il ministro delle imprese pubbliche sud-africano incontrerà oggi i sindacati del vettore aereo South African Airways (Saa) in sciopero per motivi salariali da cinque giorni. Scopo del meeting è la risoluzione delle proteste che hanno provocato la cancellazione di centinaia di voli da venerdì con un costo di 3,36 milioni di dollari al giorno. L'interruzione del lavoro che sta mettendo a rischio la sopravvivenza della compagnia, che non realizza profitti dal 2011, dipende dai salvataggi statali ed ha avvisato i passeggeri di possibili cancellazioni di voli tra oggi e domani. I sindacati hanno anche minacciato di estendere l'azione all'intera industria aeronautica sud-africana.

Irvin Jim, segretario generale dell'unione nazionale per i metalmeccanici del Sudafrica (Numsa), che ha indetto la manifestazione a fianco di South African Cabin Crew Association (Sacca), ha confermato l'incontro con il ministro Pravin Gordhan.

https://www.avionews.it/it/item/122...mette-in-ginocchio-vettore-aereo-statale.html
 

AZ209

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Compagnia messa in amministazione controllata.

05 December 2019 - SAA to enter into business rescue.

JOHANNESBURG, 5 December 2019. South African Airways (SAA) is today in a position to announce that the Board of Directors of SAA has adopted a resolution to place the company into business rescue at the earliest opportunity.

As previously announced, the SAA Board of Directors and the Executive Committee have been in consultations with the shareholder, the Department of Public Enterprises (DPE), in an effort to find a solution to our company’s well-documented financial challenges.

The considered and unanimous conclusion has been to place the company into business rescue in order to create a better return for the company’s creditors and shareholders, than would result from any other available solution.

Furthermore, the company is seeking to minimize the destruction of value across its subsidiaries and provide the best prospects for selected activities within the group to continue operating successfully.

SAA understands that this decision presents many challenges and uncertainties for its staff. The company will engage in targeted communication and support for all employee groups at this difficult time.

SAA will endeavour to operate a new provisional timetable and will publish details shortly. The company greatly appreciates the continued support of both its customers and partners in the travel industry around the world.

The Board of Directors will also announce the appointment of business practitioners in the near future, and provide media updates as and when appropriate.

It is important to point out that services operated by SAA’s subsidiary airline, Mango, will continue as usual and as scheduled.

ISSUED BY SAA BOARD OF DIRECTORS

For Media Enquiries, please contact:
SAA Spokesperson
Mr Tlali Tlali
https://www.flysaa.com/about-us/leading-carrier/media-center/media-releases/newsroom
 
Ultima modifica:

East End Ave

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su e giu' sull'atlantico...
Servono a qualcuno questi efficienti ed economici modelli?


16.01.2020 - 23:35 UTC



South African Airways (SA, Johannesburg O.R. Tambo) has issued a Request for Proposals (RFP) for the sale of five A340-300s and four A340-600s, as well as 15 spare engines and four APU units.
 

lo spaziale

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Servono a qualcuno questi efficienti ed economici modelli?


16.01.2020 - 23:35 UTC



South African Airways (SA, Johannesburg O.R. Tambo) has issued a Request for Proposals (RFP) for the sale of five A340-300s and four A340-600s, as well as 15 spare engines and four APU units.
In genere questi velivoli sono appetibili per le compagnie di paesi in cui ci sono condizioni di embargo o difficoltà ad acquistare aerei nuovi (sto pensando all'Iran), oppure possono essere acquistati (forse più i serie -300) da compagnie ACMI ovvero che provvedono un velivolo di "scorta" quando un velivolo di una compagnia aerea ha dei problemi e rimane a terra.
 

East End Ave

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su e giu' sull'atlantico...
In genere questi velivoli sono appetibili per le compagnie di paesi in cui ci sono condizioni di embargo o difficoltà ad acquistare aerei nuovi (sto pensando all'Iran), oppure possono essere acquistati (forse più i serie -300) da compagnie ACMI ovvero che provvedono un velivolo di "scorta" quando un velivolo di una compagnia aerea ha dei problemi e rimane a terra.
grazie, pensavo questo segmento fosse appannaggio della serie A330 da 15 anni in su per ruoli ACMI, mentre comprendo che in effetti possano andare a compagnie sotto embargo o che abbiano ban relativi a equipment.
 

kenadams

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13 Agosto 2007
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Quindi l'embargo vale solo per acquisto di aerei nuovi? In questo caso è facilmente aggirabile
L'embargo riguarda sia nuovo che usato.

Qualche aereo usato in Iran è arrivato tramite intermediari: Mahan Air, per esempio, ha A340 ex Virgin Atlantic arrivati presumibilmente tramite un intermediario iracheno. Quando un aereo costa poco il gioco può valere la candela - con aerei nuovi è impensabile: un intermediario non riuscirebbe né a ottenere prezzi competitivi dai costruttori, né a finanziare l'affare. Una volta acquisiti un po' di aerei, peraltro, si pone per i vettori iraniani il problema dei pezzi di ricambio, anch'essi soggetti a embargo: quindi i vettori finiscono col cannibalizzare alcune delle macchine per tenerne altre in servizio - un esercizio economico assolutamente impensabile con aerei nuovi.
 

rommix

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South African Airways Receives $240 Million Rescue Package

The state-owned Development Bank of Southern Africa has prevented the imminent collapse of South African Airways by giving the troubled airline access to 3.5 billion rand ($239 million), according to the South African Airways business rescue team.
In a statement issued today, the team looking to keep the airline still flying said they would immediately use two billion rand of the facility to keep the airline afloat.
Earlier in the month, South African Airways canceled several flights in an effort to save money. This followed the government’s failure to meet a promised cash injection that was agreed upon as a part of its bankruptcy protection terms.
South African Airways has been losing money since 2011
The state-sponsored airline has repeatedly failed to make a profit since 2011 and has only kept operating thanks to government bailouts and state-backed guarantees on loans.

A team of business rescue experts has now been put in place to trim the fat and have until the end of next month to come up with a plan to save the troubled carrier. Due to its now exasperated habit of continually asking the government for money, several ministers in Pretoria are saying enough is enough.

Now, according to the team leading the rescue, the priorities are to come up with a restructuring plan that includes an outside partner, while also preserving union jobs.

The Development Bank of Southern Africa (DBSA) is mandated to invest in South African infrastructure projects to help promote economic development. As a part of its sphere of activities, the financier can back state-owned enterprises.

In its present state, it is hard to see how SAA can survive. While speaking to Bloomberg, a lawmaker for the opposition Democratic Alliance Alf Lees said,
“In our view, it would be no better than taking money straight out of the national revenue fund. The DBSA is a wholly state-owned entity.”
With so many things conspiring to bring South African Airways down it is difficult to see how the airline can continue to operate in its present state.

Firstly like so many state-funded airlines, there has been talk of financial mismanagement and corruption. The airline is employee heavy and is constantly fighting with unions over jobs in a country that has a 29% unemployment rate.
SAAs hub and spoke operation out of Johannesburg means that traveling in Southern Africa has you constantly backtracking through O.R Tambo International Airport. Add to this South Africa’s unfortunate geographical location at the bottom of the world, and you can see why, in its current state, there is no way South African Airways can survive.
SAA needs to scale back routes and modernise
The first step in its restructuring is a reduction of routes. The airline needs to stop flying loss-making routes unless they are deemed by the government to be necessary. In this case, the government should compensate SAA for losses incurred, as is the situation with PSO routes in Europe.
Together with this, the airline needs to overhaul its schedule and not have aircraft sitting at airports overnight being unused. Once this is established, the airline needs to drastically cut staff starting with employees nearing retirement by offering them severance packages.

Now with the routes and employee level reduced, SAA needs to get rid of its gas-guzzling aircraft like the Airbus A340. These are to be replaced by more fuel-efficient twin-engine aircraft, like the A350-900 it has just deployed on its Johannesburg to New York route.

A partnership with one of the Gulf carriers would also go a long way in solving several of South African Airways’ problems. It would give them access to the world with a codeshare agreement.

https://simpleflying.com/south-african-airways-rescue-plan/
 

BGW

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the airline needs to overhaul its schedule and not have aircraft sitting at airports overnight being unused. Once this is established, the airline needs to drastically cut staff starting with employees nearing retirement by offering them severance packages.
Al più gli aerei di SAA stanno fermi dalla mattina alla sera, come a LHR o FRA, ma overnight dove esattamente?

Comunque e' un problema della rotta Europa-Sud Africa, che vola lungo il parallelo praticamente senza variazione di fuso, ed e' comune anche a tutte le compagnie che fanno la rotta in senso inverso.
Sono pochissimi i voli daytime per il Sud Africa che sono sopravvissuti (tra quelli defunti, Sabena, Swissair e Alitalia da Malpensa, che arrivavano tutti a JNB alle 8 di sera e ripartivano due ore dopo).
 

BGW

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Mega sforbiciata al network di SAA in arrivo a fine mese
Sul lungo raggio, via HKG, GRU, MUC e CAN
Sul medio, via LAD, ABJ via ACC, EBB e NLA
Sul domestico resta solo CPT con forti riduzioni
Il resto del domestico viene passato a mango.

Restano 5 destinazioni di lungo raggio (JFK, IAD via ACC, LHR, PER e FRA), un po' di regionale e CPT.
E dire che SAA era una grande compagnia, un tempo...

https://www.traveller24.com/News/Fl...business-rescue-plan-deadline-begins-20200120
 

Seaking

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Io ho molti colleghi sudafricani e da loro sento solo racconti dell’orrore: un Paese in totale sfacelo, tassi di criminalità elevatissimi, corruzione alle stelle, zero speranze.

La priorità che accomuna tutti loro (che rispetto alla media sono già dei privilegiati perché quanto meno hanno trovato lavoro all’estero) è quella di trovare il modo di ottenere un secondo passaporto, stracciare quello sudafricano e non mettere mai più piede nel Paese natio.
 

East End Ave

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su e giu' sull'atlantico...
Sempre piu' asfittica la situazione...

South African Government refuses additional state aid for ailing South African Airways
ByThibault Lapers -15 April 2020070
The South African government has refused South African Airways (SAA) an additional loan of approximately €500 million.

South African Airways has been denied any additional loan by the South African government in order to recover from the current crisis.

“We are currently assessing the impact of this development on the business-rescue process and will communicate any decisions to be made,” the airline’s administrators (who were put in charge in December 2019) said in a letter to Bloomberg.

The airline is in “Business Rescue” since December 2019 as the airline faces losses since 2012. Administrators had cut routes and started consultations with unions for a possible loss of 4,700 jobs.

The grounding of SAA due to the COVID-19 crisis accelerated its needs, and have dug further into the treasury of the airline.

South African Finance Minister Tito Mboweni said that an SAA closure is a way to save funds for the country facing the crisis.
“All options are now blocked to any form of real continuation of the airline,” said Peter Attard Montalto, head of capital markets research at Intellidex, to Bloomberg. “Basically the only option now is liquidation.”

“We are of the firm conviction that South Africa needs a viable and sustainable set of airlines,” the Department of Public Enterprises, lead by Pravin Gordhan, said in a statement late Tuesday. “We must urgently determine the operating and business model for a rescued airline, with a sustainable financial model.”