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SAA Takes to The Skies in September After 15-Month Hiatus

SOUTH AFRICA
  • SA Airways to resume flights 23 September after being grounded for 15 months by Covid-19 & business rescue
  • SAA will initially do local SADC flights, but expand as operations ramp up in line with market conditions
  • SAA has been reliant on state bailouts for many years and has taken on a an equity partner (Takatso) which will inject R3.5bn over the next three years with Govt having no further obligations outside of existing liabilities
  • This reduces the fiscal drag that the airline has placed on the Treasury, but some experts have said that the troubles are far from over and funding may not be sufficient for a full recovery
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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