We value your privacy

We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic. By clicking "Accept All", you consent to our use of cookies. Cookie Policy

Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

ADVERTISEMENT
Africanian
  • News
  • News 24/7
  • Politics
  • Business
  • Health
  • Sports
  • Travel
  • World
    • US
    • Russia
    • Europe
    • Asia
    • America
  • Events
No Result
View All Result
Africanian
No Result
View All Result
Home Business

Ethiopian Airlines Group could offer support to SAA

International travel remains banned from South Africa for leisure purposes, though domestic flights were recently given the green light as part of a wider economic reopening.

in Business
Reading Time: 2 mins read
3 0
0
Ethiopian Airlines Group could offer support to SAA
1
SHARES
Share on FacebookShare on TwitterShare via Whatsapp

By Loni Prinsloo, Samuel Gebre and Layan Odeh

JOHANNESBURG – Ethiopian Airlines Group is among companies in talks with South Africa’s government about potentially offering support to the country’s insolvent state airline, according to people familiar with the matter.

Africa’s biggest carrier is considering ways to help bankrupt South African Airways fly again after more than five months of dormancy, said the people, who asked not to be identified as the talks are private. Taking a stake in the carrier is one of the options under discussion, they said, though negotiations are ongoing and an agreement may not be reached.

South Africa needs to raise more than 10 billion rand ($595 million) to revive SAA, according to a rescue plan compiled by administrators and backed by both the state and labor groups. Yet Finance Minister Tito Mboweni has said the funds should come from private sources, committing only to help “mobilize” the required amount. SAA was placed under administrative protection in December, before the coronavirus crisis hit.

Much of the funding is likely to come from private financial backers rather than Ethiopian, which would bring more operational expertise to the table, the people said.

More

Nigeria accelerates economic transformation with key reforms and signs of recovery

Rwanda combines youth innovation and circular economy to build a resilient nation

7 Tracks, 1 Future: AfriLabs Annual Gathering 2025 Sets the Stage for Africa’s Innovation Renaissance

Ethiopian Chief Executive Officer Tewolde GebreMariam said talks have taken place in the past but were put on hold. He referred questions about the current situation to Abel Alemu, the airline’s regional manager for southern Africa, who didn’t immediately comment.

A spokeswoman for SAA’s administrators declined to comment.

The Department of Public Enterprises said last month it has received as many as 10 expressions of interest from “private-sector funders, private-equity investors and partners.” Those relate to the main airline and its subsidiaries, namely low-cost carrier Mango, catering arm Air Chefs and maintenance unit SAA Technical.

As many as four of the proposals are promising, the DPE’s director general, Kgathatso Tlhakudi, said in an interview. The DPE declined to comment.

As well as Ethiopian, there has been engagement between the government and Gulf giant Emirates about its codeshare agreement with SAA.

“Emirates can confirm that it has been in touch with South African Airways for general discussions relating to the codeshare partnership between both airlines,” a spokesperson said.

SAA has lost money for almost a decade, relying on bailouts and debt guarantees from the government. It was forced to ground all commercial passenger flights in March when South Africa closed its borders to contain the pandemic.

Tewolde said last year the state-owned carrier would be interested in buying a stake in SAA if approached, though that company has also since battled its own severe revenue shortfall due to Covid-19 travel bans.

SAA’s need for 10 billion rand includes 2.8 billion rand to get planes flying again and 2.2 billion rand for voluntary severance packages to cut the workforce to 1,000 employees from about 4,800. About 3 billion rand is needed for ticket refunds and 1.7 billion rand for plane-leasing companies.

Source: iol.co.za
africanian

africanian

  • Trending
  • Comments
  • Latest
Rwanda combines youth innovation and circular economy to build a resilient nation

Rwanda combines youth innovation and circular economy to build a resilient nation

July 3, 2025
7 Tracks, 1 Future: AfriLabs Annual Gathering 2025 Sets the Stage for Africa’s Innovation Renaissance

7 Tracks, 1 Future: AfriLabs Annual Gathering 2025 Sets the Stage for Africa’s Innovation Renaissance

June 25, 2025
Weather in South Africa: Climate and Seasons

Weather in South Africa: Climate and Seasons

August 25, 2020
Lesotho increases blood collection by 70% between 2017 and 2024

Lesotho increases blood collection by 70% between 2017 and 2024

July 8, 2025
Nigeria accelerates economic transformation with key reforms and signs of recovery

Nigeria accelerates economic transformation with key reforms and signs of recovery

July 7, 2025
RevUp Women Initiative Launches Nigeria Edition at Lagos Startup Week 2025

RevUp Women Initiative Launches Nigeria Edition at Lagos Startup Week 2025

July 5, 2025
Twitter Instagram Youtube Facebook
No Result
View All Result

Africanian News

Is a dedicated project aimed at amplifying the voices of the African Ecosystem and Diaspora. We actively collaborate with initiatives to improve access to education and digital inclusion, both in traditional schools and through digital platforms, for African children.

It’s crucial to emphasize that none of the articles or images featured on our platform are intended for copyright infringement, neither now nor in the future. If you believe that any information, text, image, etc., may be subject to copyright and should be removed, please notify us by sending an email to info@africanian.com

Your dreams matter; your stories matter.

Feel free to explore collaboration opportunities with us. Share your articles, thoughts, interviews, experiments, or no-comment videos by reaching out to info@africanian.com. You can also subscribe to our mailing list to receive the latest updates from Africanian News.

© 2024 Africanian News: From Africa, by Africans, for Africa, and friends of Africa.

No Result
View All Result
  • News
  • Politics
  • Business
  • Health
  • Sports
  • Entertainment
  • Tech
  • Travel
  • World

© 2024 Africanian News: From Africa, by Africans, for Africa, and friends of Africa.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Log In

Sign In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Back to Login

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Accept

Add to Collection

  • Public collection title

  • Private collection title

No Collections

Here you'll find all collections you've created before.