Several years of unsuccessful restructuring and the coronavirus epidemic seemed to have had the better of the national carrier. South African Airways.
The carrier entered receivership in December 2019 and officially suspended all its flights in September 2020. The main reason for this was a total lack of cash. Last April, however, the company finally received from the State - its main shareholder - a 444.5 million financial injection for its restructuring. This led to his rescue.
In June, theThe South African state finally sold 51% of its shares to a majority African consortium, Takatso. The latter has indicated that it will inject a further 172 million euros into the company. The State will continue to hold 49% of SAA's capital but will no longer intervene financially.
Priority domestic and regional routes
According to the consortium, the €172 million will enable SAA to resume and consolidate its activities over the next 12 to 18 months. As a result, the carrier has resumed its flights.
Announced at the beginning of the week, SAA will take off again on 23 September. However, its network will be very limited. It will initially cover flights from Johannesburg to Cape Town as well as to Accra, Kinshasa, Harare, Lusaka and Maputo. The airline promises to add further destinations as demand picks up. Flights can already be booked on the company website.
However, there is no mention of a rapid return to intercontinental flights, particularly to Europe.. The company believes that competition in this sector is very strong and that it will have to be cautious. However, it is likely that London and probably Frankfurt will be among the first to welcome back SAA's brightly coloured aircraft.
According to SAA Chairman John Lamola, "SAA is off to a flying start with a formidable commercial asset".
