Friday, September 27, 2013
Wednesday, May 1, 2013
■ SOUTH AFRICA: Now SAExpress needs $60million in state funding to cover debt covenants with aircraft suppliers.
SA Express (XZ) is in the process of finalizing a USD60million (ZAR539million) state guarantee (read Bailout) needed to help it cover the terms of various debt covenants. The funding however, falls far short of its originally requested USD111million (ZAR1billion) extension.
Tuesday, March 26, 2013
■ RWANDA: Government finalizing plans for $350mln bond issuance of which RwandAir will be major benefactor.
The Rwandan Government is finalizing plans for the issuance of a sovereign bond aimed at raising "about USD350million (RWF222billion)", part of which will be used to prop up national carrier Rwandair (WB) in whom government has a 99% shareholding.
Tuesday, March 5, 2013
■ NAMIBIA: Air Namibia due for $120mln bailout from Government this year with more big spending to come.
Sunday, January 6, 2013
■ SOUTH AFRICA: SAA gets another USD64million bailout as poor fuel sourcing deals return to haunt the carrier.
South African Airways' (SA) perennial problems with sourcing competitively priced Jet A1 fuel came back to haunt it once more as reports emerge of the carrier receiving an emergency USD64million (ZAR550million) "bank facility" from its sole shareholder, the South African government.
Sunday, October 7, 2012
■ SOUTH AFRICA: 1Time wants reductions in fuel levy, taxes as private airlines react angrily to SAA bailout.
1Time (T6), the South African LCC, has clarified the air over reports in the press that it had written to the South African government seeking a bail out (akin to what national carrier South African Airways (SA) secured last week), stating that their proposal centred around the South African government subsidising the airline industry as a whole with selected levies and taxes, and not to only offer unfair bail outs to South African Airways and its affiliate SAExpress (XZ).