Dubrovnik Airport maintains growth momentum

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

Dubrovnik Airport maintains growth momentum

NEWS FLASH

Dubrovnik Airport registered its busiest September on record by handling 405.924 passengers during the month, representing an increase of 5.1%. During the first three quarters, the airport welcomed 2.504.946 travellers through its doors, up 11.6%. Since the start of the year, Dubrovnik Airport added an extra 259.575 passengers.

Month	PAX	Change (%)
JAN	26.323	▲ 18.1
FEB	33.765	▲ 40.3
MAR	57.880	▲ 21.4
APR	210.803	▲ 39.0
MAY	315.037	▲ 8.1
JUN	415.876	▲ 13.8
JUL	514.723	▲ 8.4
AUG	524.615	▲ 8.9
SEP	405.924	▲ 5.1

Comments

Anonymous14:58
Bravo Hrvatska!
ReplyDelete
Replies
Anonymous15:57
My god this is fantastic !
ReplyDelete
Replies
Anonymous03:22
Passengers added during first three quarters of 2019:

DBV: 260k
ZAG: 57k
PRN: around 180k
SPU: around 170k
BEG: 348k
ZAD: ?
ReplyDelete
Replies

Add comment

Search This Site

Dubrovnik Airport maintains growth momentum

Comments

Post a Comment