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Nov 10, 2021 · After years of struggling to make a profit, South African Airways was placed under administration, ceasing all operations in December 2019. The airline was placed under a form of bankruptcy protection called a “business rescue,” which would see appointed business experts work to pay off debts, raise cash (by selling off assets), reduce ...
Apr 30, 2021 · SAA still faces heavy financial losses. It last turned a profit in 2011 and is still expected to have negative cash-flow over the next five years.
Nov 9, 2021 · After years of struggling to make a profit, South African Airways was placed under administration, ceasing all operations in December 2019. The airline was placed under a form of bankruptcy protection called a "business rescue," which would see appointed business experts work to pay off debts, raise cash (by selling off assets), reduce airline ...
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Dec 19, 2023 · SAA last turned a profit in 2011 and since then the state-owned airline has been racking up financial losses while depending on billions in taxpayer-funded bailouts to survive.
Feb 24, 2022 · Eight months after it was announced that the Takatso Consortium, which includes Harith General Partners (a private equity firm) and Global Aviation (an aircraft leasing company), plans to buy a 51%...
SAA recorded an operating profit for the first time in 10 years. In March, a new Customer Loyalty Programme Accounting Guideline (IFRIS 15) became effective, whereafter SAA Voyager changed to a Business Unit within the SAA Group. December saw the first co-branded cheque card take off in South Africa with Nedbank - the first to be introduced ...
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Jan 28, 2024 · It did return in September 2021, making a surprise profit serving a limited number of African destinations after coming out of voluntary business rescue. This was a process which saw the...