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1. furtherafrica.com › 2021/11/10 › back-from-the-brinkBack from the brink: the success story of South African ...

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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 ...

2. www.dailymaverick.co.za › article › 2021/04/30-saasSAA’s 17-month-long business rescue process ends, with the ...

   www.dailymaverick.co.za › article › 2021/04/30-saas

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   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.

3. simpleflying.com › south-african-airways-historyBack From The Brink: The Story Of South African Airways

   simpleflying.com › south-african-airways-history

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   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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4. www.dailymaverick.co.za › article › 2023/12/19-saasSAA’s historical mess finally revealed - Daily Maverick

   www.dailymaverick.co.za › article › 2023/12/19-saas

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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.

5. www.dailymaverick.co.za › article › 2022/02/24-a-newA new privately owned SAA to take to the skies – but what is ...

   www.dailymaverick.co.za › article › 2022/02/24-a-new

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   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%...

6. www.flysaa.com › about-saa › brief-historyBrief History - South African Airways

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   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 ...

7. People also ask

   How did SAA become profitable?

   • In May, SAA launched an 18-month restructuring programme to make the airline profitable. This process was expected to save the airline R2.7 billion. In November, SAA became the proud official carrier of the South African rugby team - the Springboks - as part of a sponsorship agreement between the airline and SA Rugby. 2008

   Brief History - South African Airways

   www.flysaa.com/about-us/leading-carrier/about-saa/brief-history

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   Why is SAA under business rescue?

   • SAA was placed under business rescue due to poor financial performance in December of that year. 2020 January of that year saw SAA being named one of the top on-time-performing airlines. On the 21st of that month, the airline consolidated selected domestic flights and an international service to Munich.

   Brief History - South African Airways

   www.flysaa.com/about-us/leading-carrier/about-saa/brief-history

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   How much money did SAA receive from the government?

   • After around 17 months of bankruptcy protection to deal with its financial situation, SAA received R7.8 billion ($537.87 million) from the government. Resuming operations in late September 2021, the airline has a much smaller fleet consisting of the following aircraft:

   Back from the brink: the success story of South African Airways

   furtherafrica.com/2021/11/10/back-from-the-brink-the-success-story-of-south-african-airways-recovery/

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   Why is SAA celebrating a year on the wing?

   • In September, SAA celebrated a year on the wing - an occasion to mark a full year since the airline’s return to flight after halting operations on the back of the COVID-19 pandemic and the Business Rescue Process. In December, SAA introduced new destinations and increased frequencies ahead of the festive season.

   Brief History - South African Airways

   www.flysaa.com/about-us/leading-carrier/about-saa/brief-history

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8. www.bbc.com › news › world-africa-67554708South African Airways: Troubled airline returns to ... - BBC

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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...