Banja Luka Airport registers strong growth

GLOBAL AVIATION NEWS

SAA sold

South Africa agreed to sell a majority stake in the country’s grounded national carrier to a local jet-leasing company and private-equity firm, ridding the government of an entity that has long been a drain on state finances. A consortium comprised of Johannesburg-based Global Airways, which owns recently launched domestic airline Lift, and private-equity firm Harith General Partners will take a 51% shareholding in South African Airways (SAA), Public Enterprises Minister Pravin Gordhan said. The government will retain a minority stake. The grouping named Takatso will invest as much as 3.5 billion rand ($258 million) over the next three years, Lift co-founder, Gidon Novick, and Harith Chief Executive Officer, Tshepo Mahloele, said in an interview. “Government will have no further financial obligations to the company, outside of the existing liabilities that they will settle”, Novick said. He added, “Route networks we are still working on, and it will be a phased roll-out based on demand re-emerging post Covid”. The sale of SAA comes about six weeks after the airline emerged from lengthy bankruptcy proceedings, having reduced its workforce by almost 80% and cut liabilities to about 2.6 billion rand. The next challenge is to resume international flights, though South Africa remains cut off from much of the world due to pandemic travel restrictions. A longer-term goal is to list the carrier on a stock exchange, Gordhan said. In the meantime, the government will retain special voting rights to ensure the airline remains in the country, among other national priorities. The deal represents a triumph of sorts for Gordhan, who has argued for the revival of SAA with the help of private investors while others were calling for it to be liquidated. While SAA is now “solvent and liquid,” business-rescue practitioners said when handing over the aircraft, subsidiaries including low cost arm Mango and maintenance firm SAA Technical remain under financial strain and are in the process of being recapitalized. The Department of Public Enterprises and the new consortium will together assess the future of the divisions as part of the due diliegence process, Gordhan said.
Source: Bloomberg

Banja Luka Airport registers strong growth

NEWS FLASH

Banja Luka Airport as recorded its second consecutive month of passenger growth in July by handling 3.109 passengers through its doors, representing an increase of 22.7% on the same month last year. It also represents the airport's best July performance in over a decade. The passenger increase came as a result of Air Serbia's one weekly charter service to Antalya, which will run until September 11 and has so far recorded strong loads. During the first seven monhs of 2018, Banja Luka Airport handled 11.944 travellers, down 1.5% on the same period last year. The airport ended its eight month passenger slide in June. It is gearing up to welcome Europe's largest low cost carrier Ryanair, which will commence flights from Charleroi, Memmingen and Stockholm Skavsta to Banja Luka from October 29.

Comments

Anonymous10:45
I am so proud of BiH and how the airports are nicely developing especially TZL.
I think BNX will be the new INI and will compete directly with TZL.
On the other hand, I am glad that the people of ZAG and the southerners will use it as an alternative airport.
Bravissimo BNX, bravissimo BiH!
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Slobodan18:59
I think the flights to AYT are operated every 10/11 days, not weekly,according to KonTiki Banja Luka facebook page. The flight on August 31 will be penultimate with flight on September 11 ending the summer season for BNX.

https://www.facebook.com/pg/kontikibanjaluka/photos/?tab=album&album_id=928238080683164
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Anonymous21:09
I am checking the prices on FR's website and see that CRL and NYO are doing well and quite high in November but FMM is always dirty cheap. I hope this route survives and doesn't end like INI-EIN
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Banja Luka Airport registers strong growth

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