SA Express "suspends flight operations"

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This topic contains 9 replies, has 4 voices, and was last updated by  SimonS1 2 Sep 2019
at 16:40
.

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  • AMcWhirter
    Participant

    CH-Aviation reporting that operations ceased yesterday.

    https://www.ch-aviation.com/portal/news/81150-south-african-express-suspends-flight-operations?utm_source=dlvr.it&utm_medium=twitter

    1 user thanked author for this post.

    capetonianm
    Participant

    They were suspended in the morning but resumed by mid-afternoon. The rumour is that they had been unable to pay ACSA their fees. Where they suddenly got the money from I don’t know, but I would suspect that like SAA, they are technically bankrupt and inherently unstable.

    Just another African stuff-up.

    https://www.traveller24.com/News/Flights/pay-up-sax-told-as-acsa-keeps-suspension-in-place-20190829


    SimonS1
    Participant

    I thought the resumption was temporary and they were still grounded last night while they tried to persuade the Govt to stump up R200m.


    capetonianm
    Participant

    That seems to be the case. Flights not operating today I hear rumours that they are going to get some more taxpayers’ money next week.
    Who knows?
    JAASU!


    capetonianm
    Participant

    Subject: SA Express – grounding issues

    Dear All

    Please find below information that was in various publications today. I cannot answer any further questions as all information we have is what is being advised in the media

    SA EXPRESS REMAINS GROUNDED OVER R70M DEBT TO ACSA

    The airline has been grounded after failing to service its R70 million debt to the Airports Company.

    SA Express and the public enterprises department on Thursday are still negotiating for a R200 million bailout from government.

    “With the big-ticket items, like engines, they need to be sent for an overhaul to our various suppliers. The work has already been done, now it’s about us paying to get back our engines so we can put them back into our aircraft.”

    The airline’s latest financial woes follow damning testimony before the Zondo commission of inquiry into state capture on, which heard that millions was siphoned from SA Express for the benefit of senior ANC officials

    http://www.etnw.co.za/article/194792/More-confusion-amidst-SA-Express-cancellations


    openfly
    Participant

    What an outrageous suggestion that “ funds were syphoned off for ANC officials “….wash your mouth out! That wouldnt and couldn’t happen in SA…..😀

    2 users thanked author for this post.

    SimonS1
    Participant

    Subject: SA Express – grounding issues

    Dear All

    Please find below information that was in various publications today. I cannot answer any further questions as all information we have is what is being advised in the media

    SA EXPRESS REMAINS GROUNDED OVER R70M DEBT TO ACSA

    The airline has been grounded after failing to service its R70 million debt to the Airports Company.

    SA Express and the public enterprises department on Thursday are still negotiating for a R200 million bailout from government.

    “With the big-ticket items, like engines, they need to be sent for an overhaul to our various suppliers. The work has already been done, now it’s about us paying to get back our engines so we can put them back into our aircraft.”

    The airline’s latest financial woes follow damning testimony before the Zondo commission of inquiry into state capture on, which heard that millions was siphoned from SA Express for the benefit of senior ANC officials

    http://www.etnw.co.za/article/194792/More-confusion-amidst-SA-Express-cancellations

    And the person who testified about SA Express has fled SA fearing for her life.
    https://www.businesslive.co.za/bd/national/2019-08-29-babadi-tlatsana-flees-sa-after-testifying-about-sa-express-at-zondo-inquiry/

    And Cemair, whose “irrational” grounding by CAA was overturned by the court remains blocked because CAA are being obstructive.

    Cemair’s horror story at hands of the state is CR’s opportunity 

    Total basket case.


    AMcWhirter
    Participant

    capetonianm
    Participant

    Meantime SAA has just avoided ‘business rescue’, which is a type of judicial management. The government want to avoid that as administrators would pull the snouts out of the trough, so the spiral into the maelstrom will continue, funded by the taxpayer. And guess who 92% of them are? One of the most unequal tax bases in the world.


    SimonS1
    Participant

    As soon as the ratings agencies downgrade SA to junk status (which may happen before end 2019) then the market will go pear shaped very quickly. At that point SAA will be the least of the issues as other things like Escom and keeping the lights on will take priority. Robert Mugabe is available (just) to share his insights.

    Foreigners Are Dumping South African Bonds as Junk Status Looms

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