■ 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.

■ SOUTH AFRICA: Forensic audit reveals $20million loss for SA Express in FY 2010/2011.

Following a long, painstaking forensic audit, South African Express (SA Express) (XZ) has finally released its 2010/2011 Financial Year results posting a USD20.6million (ZAR187million) loss.

■ GHANA: Government okays $100million allocation for construction of a major international airport in Tamale.

The Ghanaian Parliament has greenlighted the allocation of USD100million needed for the construction of a major international airport in Tamale, capital of  the Northern Region. The Ghana Airports Company (GACL), who will ultimately be responsible for the running of the facility once it is open, are still to approve the project's final designs, currently being done by an unnamed Brazilian firm, before construction can begin.

■ MOZAMBIQUE: AdM to increase airport taxes to offset $350mln airport renovation debts.

Aeroportos de Moçambique (AdM), the Mozambican parastatal tasked with running the country's major airports and airspace, is set to increase passenger fees to help pay for the ongoing modernization and upgrading of Mozambique's airports.

■ 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.

● IATA: Global, African aviation outlook improving with African carriers expected to post $100mln profit in 2013: Tyler

The International Air Transport Association (IATA) has improved its global outlook - African carriers included - for the 2013 financial performance of the global airline industry primarily based on stronger revenues from increased passenger demand and growing cargo markets. Overall, IATA now expects airlines to produce a combined net post-tax profit margin of 1.6% (up from the previously forecast 1.3%) with a net post-tax profit of USD10.6 billion (up from the previously projected USD8.4 billion).

■ SEYCHELLES: Air Seychelles officially announces $1mln profit for FY2012/2013.

Following three years of losses, Air Seychelles (HM), the national airline of the Seychelles, today officially reported a net profit of USD1million for its 2012/2013 Financial Year. The positive result comes just 12 months after Abu Dhabi carrier Etihad Airways (EY) acquired a 40 per cent stake in the airline and was awarded a five year management contract. The result beats Etihad's original expectations in which the Gulf carrier projected Air Seychelles to turn a profit albeit within the first 24 months of operation.

■ SOUTH AFRICA: fastjet files letter of intent with 1Time's creditors in Johannesburg; one step closer to launching.

LCC fastjet (FN) has taken, what it terms, "a major step” towards its acquisition of defunct South African LCC 1Time (T6) through the filing of a letter of intent with the airline's liquidators in Johannesburg. The move comes on the back of a visit by fastjet's Chairman and Chief Executive, David Lenigas, to South Africa, last week.

■ EGYPT: Egyptair losses total $880million since 2011 Revolution: al-Maddawy.

Egypt's Minister of Civil Aviation, Wael al-Maddawy, says Egyptian national carrier, Egyptair (MS), has posted continuous losses of USD880million (EGP6billion) since the 2011 Egyptian revolution which lead to the fall of then president, Hosni Mubarak, and his regime.

► NIGERIA: AeroContractors flights grounded following staff strike.

Nigerian domestic operator, Aero Contractors A(J), was today, forced to suspend all flights following a strike by staff over pay and working conditions at the airline. 

■ SEYCHELLES: One year on from Etihad tie up deal, Air Seychelles posts first profit (unofficially).

One year on from when Abu Dhabi-based carrier, Etihad Airways (EY), signed a Memorandum of Understanding to acquire a 40 per cent stake in then struggling Air Seychelles (HM), the Seychellois airline has unofficially posted a USD1million profit.

■ TANZANIA: fastjet secures additional $23.5mln in funding from New York investment firm as 1Time's liquidation postponed until October.

Tanzanian based LCC, fastjet (FN), has secured an additional USD23.5million (GBP15.68million) in funding following an agreement with Bergen Global Opportunity Fund, an institutional investment fund managed by Bergen Asset Management, LLC, a New York asset management firm. 

■ NAMIBIA: Air Namibia due for $120mln bailout from Government this year with more big spending to come.

In what is fast becoming a bad trend amongst southern African carriers - the South African government "loaning" South African Airways (SA) over USD500million and Zimbabwe set to cover Air Zimbabwe's USD188million debt bill - it appears that the Namibian Government has now budgeted a whooping USD120million (NAD1.1billion) to pay for "business plan updates and outstanding debts" for struggling national carrier Air Namibia (SW), with further allocations due until 2016.

■ TANZANIA: Fastjet to settle $2mln in debts with Tanzanian taxman, Airports Authority as deal with 1Time said to be under "reconsideration".

Tanzania based fastjet (FN), has agreed to settle debts amounting to over USD2million (TAS3.14billion) owed to both the Tanzanian Revenue Authority (TRA) and the Tanzanian Airports Authority (TAA). Previously, fastjet had claimed that the debts had been incurred under predecessor Fly540's previous owner, 540 Aviation, who were therefore responsible for them.

■ GABON: New Airport Infrastructure Levy to pay for new Libreville Airport.

The Gabonese Government has announced that, from 1 September 2013, it will introduce an Airport Development Levy to be included in the price of all passenger tickets, to pay for the construction of Libreville's new airport located in Andeme, 60km outside Libreville.

■ MALAWI: Massive civil servant strike forces closure of Lilongwe & Blantyre airports.

As they had previously threatened, civil servants in Malawi have gone on strike over payrise demands, thus bringing the country to a virtual standstill with Lilongwe's Kamuzu International Airport, and later Blantyre's Chileka International Airport, having being forced to close.

■ NAMIBIA: Tourism sector jittery as Government, Air Namibia remain mute on the latter's new business plan.

Contrary to the old adage that "No news is good news", the silence emanating from Windhoek regarding Air Namibia's (SW) new business plan, pitched to its sole shareholder, the Namibian Government, late last week, is starting to unsettle players in Namibia's tourism industry, already hit by the Eurozone crisis.

■ TANZANIA: Fastjet claims parking, landing fees owed to TAA were run up by Don Smith's Fly540.

Fastjet (FN), the controversy-prone Tanzanian based LCC, has issued yet another statement refuting as "inaccurate" recent allegations in the Tanzanian press that it now owes the Tanzanian Airports Authority (TAA) TSh570'668'242.00 and USD95'360 in outstanding landing and parking charges.

■ MAURITIUS: Viljoen's leadership beginning to pay off as Air Mauritius continues to improve, but not out of woods yet.

Mauritian national carrier, Air Mauritius (MK), is beginning to reap the rewards of its envisioned 7 Step Recovery Plan amid reports that it has posted a USD9.6million (EUR6.4million) profit for Q3 (October-December) of its 2012/2013 Financial Year. However, overall results combined for Q1, Q2, Q3 show the carrier still made a substantive pre-tax loss of USD3.33million (EUR2.5 million).

■ SOUTH AFRICA: Comair Ltd posts $9mln profit for H2 2012 as Middle Eastern carriers begin to bite.

South Africa's Comair Ltd, the owners of LCC Kulula (MN) the BA Comair franchise, has posted an after-tax profit of USD8.97million (ZAR79million) for H2 (July - December 2012) as revenue influx grew 20% on the same period in 2011.