Wizz Air to end Tuzla - Vienna service

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

Wizz Air to end Tuzla - Vienna service

NEWS FLASH

Low cost carrier Wizz Air has discontinued ticket sales for its Tuzla - Vienna service at the start of the 2019/2020 winter season, which begins on October 27. Flights between the two cities were introduced last year. Wizz Air recently upgraded its seasonal service from Tuzla to Billund to year-round operations. Tuzla Airport handled 271.006 passengers during the first half of 2019, representing a decrease of 1.6%. Apart from seasonal summer charters operated by Turkey's Freebird Airlines, the airport's traffic solely depends on Wizz Air.

Comments

Anonymous11:29
Are they gonna terminate the route completely or are they just going back to seasonal?
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Anonymous11:42
This is catastrofa
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Anonymous11:46
Quo vadis Tuzla.
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Anonymous13:00
It will be rerurned in the summer
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Anonymous16:21
Austrian offers a much better service from Sarajevo.
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Google Driver17:04
why?
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Anonymous17:20
Decrease of 1.6 % is nothing.
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Anonymous17:21
Wasn't this route reduced right after it was introduced?
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Anonymous19:14
considering all of VIE traffic, there is a pattern emerging: WIZZ, Lauda and Level all retract on some of the relations where the pricing of LH group become more aggressive this year

there was an interview by LH boss just yesterday, that they will do "what is needed" to defend their home
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Anonymous09:02
Didnt Wizz close BTS as well few years ago from Tuzla?
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arbajram21:16
Overpriced Austrian likes this
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Wizz Air to end Tuzla - Vienna service

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