The Cinema Exhibitors Association of Nigeria (CEAN), the country’s premier Film Trade Association Body, has announced good news for cinema lovers on the occasion of the International Cinema Day. Opeyemi Ajayi, the chairman of the Cinema Exhibitors Association of Nigeria (CEAN), said in a statement on Tuesday in Lagos that cinema lovers would enjoy discounted […]
Ethiopian Airlines Group is amongst corporations in talks with South Africa’s government about potentially supplying aid to the country’s insolvent kingdom airline, in accordance to people familiar with the matter. Africa’s biggest service is thinking about ways to help bankrupt South African Airways fly once more after more than 5 months of dormancy, said the […]
South Africa‘s government has started talks with private entities interested in buying into the country’s insolvent national carrier, which needs at least 10 billion rand ($583 million) to resume operations. A team from the Department of Public Enterprises and advisers from FirstRand Ltd.’s Rand Merchant Bank began negotiations after receiving as many as four promising […]
The commercial enterprise rescue practitioners of South African Airways have called a creditors’ meeting for Friday 24 July, on the foundation that a condition set in the enterprise rescue sketch has no longer been met. The unmet condition relates to government having to grant confirmation excellent to the Development Bank of Southern Africa (DBSA) as […]
Finance Minister Tito Mboweni has hit back at claims by the DA that National Treasury plans to extend a bailout to help fund the business rescue process of flag carrier South African Airways. This after the main opposition party announced on Friday that it had filed an urgent interdict application in the Gauteng High Court […]
Minister of Public Enterprises Pravin Gordhan and Finance Minister Tito Mboweni on Thursday wrote a letter to South African Airways’ business rescue practitioners, committing to “mobilise” funding for restructuring SAA – but it remains unclear where the money will actually come from. The letter, which does not mention particular amounts or sources of funding, was […]
South Africa’s public enterprises ministry on Wednesday urged creditors to back a rescue plan for cash-strapped South African Airways (SAA). Creditors are due to vote on the restructuring plan on Thursday, but one of the creditors – private airline Airlink – is in court on Wednesday trying to prevent the vote from happening. The plan […]
Pravin Gordhan, South Africa‘s minister for public enterprises, is staking his own credibility and that of President Cyril Ramaphosa‘s government on the creation of a new airline out of the ashes of the bankrupt national carrier. Hit by the loss of the country’s last investment-grade rating on its sovereign debt and the COVID-19 pandemic, Ramaphosa […]
South African Airways (SAA) on Tuesday recalled some of its planes to undertake compliance checks, indicating that it may consequently operate an amended flight schedule. The cash-strapped airline said in a statement that some of the flights will operate later than usual and four flights have been cancelled, but the airline has combined flights and […]