Ryanair to launch two new Podgorica routes

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

Ryanair to launch two new Podgorica routes

NEWS FLASH

Europe’s largest airline, Ryanair, will introduce flights from Krakow and Poznan in Poland to Podgorica in 2020. Services from Krakow will commence on February 23 while the Poznan operations will be inaugurated on March 30. Both will be maintained twice per week. The airline previously scheduled new services between Dublin and the Montenegrin capital which are due to launch on April 2. The new routes bring the number of Polish cities served from Podgorica to five with Wizz Air maintaining flights to Katowice and Warsaw and LOT Polish Airlines from the country’s capital as well. Further flight details for the Krakow service can be found here, while further information for the Poznan route can be viewed here.

Comments

Anonymous12:30
even though I'm aware this is summer holiday route, I want KRK from INI...
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Anonymous12:36
This is bad news for LO.
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Anonymous13:01
Yes, good news. Those five plus Enter air flies to Poznan Katowice from Tivat in Summer too. Keep it up.
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Anonymous14:18
Why would anyone fly from Krakow to Podgorica on Feb 23 even if tickets are only 10 EUR? Let alone 150 people? And then twice a week? Cold, windy, almost nothing is open on the coast? I get it in the summer, but in Feb - seriously Ryanair?
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Anonymous16:28
The airport on the photo i guess is Banja Luka - it looks stunning !
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Anonymous17:45
Montenegro keeps winning!
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RunwayRunner13:26
Is Ryanair about to become the second carrier from TGD?
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Ryanair to launch two new Podgorica routes

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