
<p>By Alexander Winning</p>



<p>JOHANNESBURG, Jan 21 (Reuters) &#8211; South African Airways (SAA) has cancelled some domestic flights between its Johannesburg hub and Cape Town and Durban, and some international flights to Munich, the state airline said on Tuesday, as it fights for its survival.</p>



<p>SAA is running short of cash after the government failed to provide 2 billion rand ($137 million) of emergency funding it promised when the airline entered a form of bankruptcy protection last month.</p>



<p>&#8220;These cancellations represent a responsible strategy to conserve cash and optimise the airline&#8217;s position,&#8221; SAA said in a statement, adding that it was working to accommodate affected customers on other flights.</p>



<p>&#8220;SAA will be reviewing further possible flight schedule amendments over the coming days.&#8221;</p>



<p>The airline is one of several South African state entities, including power company Eskom, mired in financial crisis after nearly a decade of mismanagement.</p>



<p>State companies&#8217; financial problems are seen as one of the biggest threats to Africa&#8217;s most industrialised economy and have helped push the country&#8217;s credit rating to the brink of junk status.</p>



<p>SAA said flight cancellations on the domestic and Munich routes were planned until Friday.</p>



<p>A booking system used by travel agents showed that 19 SAA flights had been cancelled so far, according to a representative of a local travel agent.</p>



<p>The airline&#8217;s business rescue practitioners held talks with the government at the weekend to try to find a solution on the promised funding, but failed to reach a breakthrough.</p>



<p>On Sunday, the public enterprises ministry said it was still talking with the National Treasury to raise funds for SAA.</p>



<p>Last week, a senior trade union official said SAA might have to suspend some flights and delay salary payments if the government didn&#8217;t come up with a plan to provide the 2 billion rand soon.</p>



<p>($1 = 14.5682 rand) </p>



<p>(Reporting by Alexander Winning; Editing by Jason Neely and Barbara Lewis)</p>


SAA cancels some flights as airline fights for survival

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<p>Low-cost carrier Jambojet officially launched its flights to Kigali, Rwanda on Monday. The airline has six planes and is awaiting delivery of two more to service its expanding plans to the region. CEO of Jambojet, Allan Kilavuka joins CNBC Africa for more.</p>


Jambojet CEO Kilavuka speaks about expanding East Africa footprint


<p>ADDIS ABABA (Reuters) &#8211; Ethiopian Airlines’ operating revenue jumped nearly 30% in the year to July 31, a senior government official said on Tuesday, helped by a surge in passenger numbers.</p>



<p>Operating revenue jumped by 28.6% year on year to 114.6 billion birr ($3.9 billion), said Wondafrash Assefa, head of communications at Ethiopia’s Public Enterprise Holding and Administration Agency (PEAA).</p>



<p>PEAA has a supervisory role over public enterprises including Ethiopian Airlines.</p>



<p>Wondafrash did not give a reason for the revenue leap, but the airline’s CEO Tewolde Gebremariam last month told state television that passenger numbers had risen by 14%.</p>



<p>In March, one of the airline’s Boeing planes crashed a few minutes after take-off from Addis Ababa en-route to Nairobi, killing all 157 people on board.</p>



<p>That crash and another involving Lion Air two weeks earlier led to the grounding of U.S. planemaker Boeing’s 737 MAX jets worldwide.</p>



<p>($1 = 29.2000 birr)</p>



<p>Writing by Elias Biryabarema; Editing by David Goodman</p>


Ethiopian Airlines annual revenue jumps to 29%, what you need to know


<p>NAIROBI (Reuters) &#8211; Ethiopian Airlines saw a big rise in its operating revenue in the year to the end of June, as a surge in passenger numbers helped to offset the impact of higher fuel costs, the carrier told Reuters on Friday.</p>



<p>Africa’s biggest airline said operating revenue rose 17 percent in dollar terms while passenger numbers were up 14 percent.</p>



<p>In March, one of the airline’s Boeing planes crashed a few minutes after take-off from Bole airport in Addis Ababa en-route to Nairobi, killing all 157 people on board.</p>



<p>“In one of the most challenging years, we managed to continue our fast, profitable and sustainable growth,” the airline told Reuters, sharing its preliminary results for the period.</p>



<p>The full set of results is expected in the next two weeks, the company said.</p>



<p>It flew 12.1 million passengers during the period, helping to cushion an increase in fuel costs of about 25 percent, the airline said.</p>



<p>Planes were three quarters full on average, a key performance measure for the industry.</p>



<p>Ethiopian said it offered 13% more flight seats per kilometre during the reporting period.</p>



<p>Reporting by Omar Mohamed; Writing by Duncan Miriri; Editing by Elaine Hardcastle </p>


Ethiopian Airlines sees jump in operating revenue as passenger numbers rise

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<p>East Africa&#8217;s only low cost carrier Jambojet is setting it&#8217;s sights on more expansions in the East Africa community with an initial focus on coastal routes, this is amid challenges in the East African Community (EAC) aviation sector. CEO of the airline, Allan Kilavuka joins CNBC Africa for more.</p>


Low cost carrier Jambojet eyes East Africa expansion for growth


<p>NAIROBI (Reuters) &#8211; Kenya Airways plans to double its fleet over the next five years, its chairman said on Monday, as the loss-making carrier combats regional rivals like Ethiopian.</p>



<p>The Kenyan airline, which is 48.9% government-owned and 7.8% by Air France-KLM, restructured $2 billion of debt in 2017 and is opening new routes as it seeks to return to profit.</p>



<p>It had a fleet of 41 airplanes at the end of last year, comprising a mix of wide and narrow body Boeing planes, compared with Ethiopian which operates more than 100 planes.</p>



<p>Kenya Airways, which also operates Bombardier and Embraer planes on its short and medium haul flights, is restructuring its aircraft leasing agreements and its other debts to free up cash for investment in new planes, Chairman Michael Joseph told a shareholder meeting.</p>



<p>“We intend to double the size of the fleet over the next five years if we can find the right financial structure to do this,” Joseph said.</p>



<p>Efforts by the airline to boost its revenue by taking over the running of Nairobi’s Jomo Kenyatta International Airport were thwarted by a parliamentary committee last month.</p>



<p>The cabinet had backed a plan last year to hand over management of the profitable airport, the largest in the country, to Kenya Airways to revitalise its balance sheet and allow it to buy new planes and open new routes.</p>



<p>Kenya Airways wants to emulate rival carriers who operate airports, taking advantage of profitable services such as catering, fuel distribution, cargo and maintenance.</p>



<p>The parliament’s transport committee has instead proposed that the government considers other ways of helping the carrier, including exempting it from paying taxes.</p>



<p>Chief Executive Sebastian Mikosz, who was hired in 2017 to help turn around the airline, said last month he would resign at the end of this year for personal reasons, casting its recovery into doubt.</p>



<p>The chairman however said the airline’s management was intact despite Mikosz’s planned departure, adding he would leave behind a solid team but declining to say when a replacement for Mikosz will be chosen.</p>



<p>Editing by Duncan Miriri and Alexander Smith </p>


How Kenya Airways plans to double its fleet over the next 5 years

<p>CAPE TOWN (Reuters) &#8211; South Africa’s cash-strapped state airline will need a total of 7.5 billion rand ($540 million) from next month to fund day-to-day operations into 2019, a presentation to a parliamentary committee by the airline showed on Tuesday.</p>
<p>SAA, which has not generated a profit since 2011, survives on state guarantees and is regularly cited by credit ratings agencies as a drain on the government purse.</p>
<p>It has drawn up an austere turnaround plan that includes cutting jobs and routes in effort to turn a profit by 2021 and convince lenders to restore credit lines.</p>
<p>The airline said lenders have refused to lend the company 3.5 billion rand to plug a liquidity hole from December unless they received additional commitments from the government, the presentation showed.</p>
<p>In addition, the national carrier will need 4 billion rand ($288 million) from March next year, the presentation showed.</p>
<p>“Currently we don’t have an optimal capital structure and as a result of that we are dependent on debt which is not good&#8230; the banks are pushing now for much more better support from the shareholder to put in place for us,” said Deon Fredericks, SAA’s interim chief financial officer.</p>
<p>SAA is expected to make a 5.2 billion rand loss in the 2019 financial year and another 1.9 billion in 2020 before swinging into profit a year later, the presentation showed.</p>
<p>($1 = 13.8763 rand)</p>
<p>Reporting by Wendell Roelf; Editing by James Macharia</p>


SAA needs $540 million from next month to fund day-to-day operations

<p>ADDIS ABABA (Reuters) &#8211; Ethiopian Airlines will start flying to the Somali capital Mogadishu on Nov. 2 for the first time in four decades, the state-affiliated Fana Broadcasting reported on Tuesday.</p>
<p>“Our flights will quickly grow to multiple daily flights given the huge volume of traffic between the two sisterly countries and the significant traffic between Somalia and the rest of the world,” the airline’s CEO, Tewolde Gebremariam, was quoted as saying by Fana.</p>
<p>Writing by George Obulutsa; Editing by Matthew Mpoke Bigg</p>


Ethiopian Airlines will resume flights to Mogadishu for the first time in four decades

<p><span class="articleLocation">Duncan Miriri | NAIROBI</span></p>
<p>Kenya will offer $750 million in guarantees to Kenya Airways&#8217; existing creditors to help the heavily-indebted carrier secure financing from other sources to complete its recovery, a cabinet document showed on Tuesday.</p>
<p>The guarantees, approved by the cabinet, will cover $525 million owed to the U.S. Exim Bank and the rest to local lenders, said the document seen by Reuters.</p>
<p>The airline, partly-owned by Air France KLM and the Kenyan government, has struggled to return to profit after tourist traffic slumped four years ago following a spate of attacks by Somalia-based Islamist militants.</p>
<p>The government will also convert its existing loans to the carrier into equity, it said. It was not immediately clear how much it has lent the carrier, but a source at the airline said it was a &#8220;significant&#8221; amount lent over time.</p>
<p>The plan to guarantee the existing debt will be taken to the National Assembly for approval, the government said.</p>
<p>&#8220;The guarantees would be in exchange for material concessions to be provided as part of the financial restructuring which would secure future funding for the company,&#8221; the cabinet document said, without giving details on the concessions.</p>
<p>The government views the airline as a strategic asset, supporting other industries such as tourism and encouraging investments from abroad.</p>
<p>Several international firms have set up their regional headquarters in Nairobi to take advantage of Kenya Airways&#8217; extensive route network on the continent.</p>
<p>Kenya Airways ferries 12,000 passengers a day on its fleet of Boeing and Embraer planes to destinations such as Juba and Accra.</p>
<p>At 1012 GMT, Kenya Airways shares were down 1.5 percent at 6.65 shillings.</p>
<p>The government would not provide additional cash as part of the restructuring of the airline, it added.</p>
<p>The debt owed to the U.S Exim bank is related to the financing of the purchase of the carrier&#8217;s Boeing planes.</p>
<p>Kenya Airways says the financial restructuring will involve restructuring debt and securing additional capital to help dig itself out of a position of negative equity, and attain a better balance between cash flow and debt repayments.</p>
<p>(Reporting by Duncan Miriri; Editing by Elias Biryabarema and Mark Potter)</p>


Kenya government says to guarantee $750 mln in Kenya Airways debt

<p><span class="articleLocatio&lt;/span&gt;n" style="transform: translate3d(0px, 0px, 0px);">London&#8217;s Heathrow Airport said early on Monday that there were still some disruptions to British Airways flights from the airport following a global computer system failure at the airline.</span></p>
<p>BA said on Twitter it would run a full schedule at London&#8217;s Gatwick on Monday and intended to operate a full long-haul schedule from Heathrow along with a high proportion of short-haul service.</p>
<p>The airline resumed some flights from Britain&#8217;s two biggest airports on Sunday, but hundreds of passengers were still waiting for hours at London Heathrow.</p>
<p>&#8220;We have mobilized additional Heathrow colleagues to assist passengers at the terminals and give out free water and snacks,&#8221; Heathrow said in a statement on Twitter.</p>
<p>The airport said earlier that further delays and cancellations of BA flights were expected on Sunday and told passengers not to travel to the airport unless they were rebooked on other flights.</p>
<p>BA canceled all its flights from Heathrow, Europe&#8217;s busiest airport, and Gatwick on Saturday after a power supply problem disrupted its flight operations worldwide and also hit its call centers and website.</p>
<p>(Reporting by Ismail Shakil in Bengaluru; Editing by Peter Cooney)</p>


Britain’s Heathrow says BA still experiencing some disruptions

<p>Rwanda has removed the chief executive of its state-run airline, a cabinet statement said on Thursday, without giving a reason.<span id="midArticle_byline"></span></p>
<p>The statement said the government had named Chance Ndagano as RwandAir&#8217;s acting chief executive officer, replacing John Mirenge. Ndagano also serves as the vice chairman of the Rwanda Civil Aviation Authority.</p>
<p>Mirenge had been at the helm of RwandAir since 2010 and is credited with steering an ambitious expansion plan despite the company not announcing any profits.</p>
<p>Last month, RwandAir said it would start flights to London in May, making it the airline&#8217;s 22nd destination.</p>
<p>RwandAir has 11 aircraft and expects delivery of a 12th, a Boeing 737-800, in May.</p>
<p>http://cnbc.africa/news/east-africa/2017/03/29/rwandas-airline-start-flights-london/</p>
<p>(Reporting by Clement Uwiringiyimana; Editing by George Obulutsa)</p>


Rwanda replaces airline CEO, gives no reason

<p>Rwanda&#8217;s airline will start three weekly flights to London&#8217;s Gatwick airport on May 26 and it expects to exceed one million passengers on all its routes in the next three to four years, Chief Executive John Mirenge said on Monday.<span id="midArticle_byline"></span></p>
<p>The London route, which will be served by two newly acquired Airbus A330s, will be East African airline RwandAir’s 22nd destination.</p>
<p>&#8220;We see this as another way to increase tourism from Europe and UK in particular which is one of the key contributors of tourists to Rwanda,&#8221; Mirenge told Reuters.</p>
<p>Mirenge also said the airline planned to start flights to New York, Bamako in Mali, Conakry in Guinea and Lilongwe in Malawi. It would also soon start flights to Mumbai and Guangzhou in China.</p>
<p>&#8220;Africa is still underserved in terms of aviation services so that&#8217;s why we cannot stop from growing especially on the continent,&#8221; Mirenge said.</p>
<p>For the year ending July 2017, Mirenge said RwandAir was targeting a total of 750,000 passengers, up from 600,000 in the previous period.</p>
<p>RwandAir has 11 aircraft and expects delivery of a 12th, a Boeing 737-800, in May.</p>
<p>Rwanda&#8217;s government signed a deal with Portuguese construction firm Mota-Engil this year to build and operate a bigger airport in Bugesera, south of the capital. It is due to be completed in 2019.</p>
<p>(Reporting by Clement Uwiringiyimana, Editing by Susan Thomas)</p>


Rwanda’s airline to start flights to London

<p>Nigeria&#8217;s &#8220;bad bank&#8221; said on Thursday it had taken over the day-to-day running of Arik Air in an attempt to rescue the country&#8217;s largest airline, which it placed in receivership last week after it was unable to pay workers or creditors.</p>
<p>Michael Arumemi-Ikhide, the founder of Arik Air, has said the government seized the airline to meet a political goal of creating a &#8220;national carrier&#8221; and told Reuters he would challenge the move in court.</p>
<p>Arik Air, which controls around 55 percent of the domestic market and is West Africa&#8217;s biggest airline by passenger numbers, has been hard hit by Nigeria&#8217;s currency crisis as its customers has to pay for fuel in dollars not naira.</p>
<p>Arik owes AMCON, Nigeria&#8217;s bad bank, around 147 billion naira and another 165 billion naira to four commercial lenders, AMCON&#8217;s chief executive, Ahmed Kuru said in a presentation to lawmakers on Wednesday following the takeover.</p>
<p>Its founder Michael Arumemi-Ikhide owed AMCON 263.7 billion naira from other businesses and Arik Air, the bad bank said. Arumemi-Ikhide was not available for comment on Thursday, while Arik Air declined to comment.</p>
<p>&#8220;We have deployed people there (at Arik) to manage it, pending when we can stabilise it and then bring in investors to take (it) over,&#8221; Kuru said, adding that AMCON would review the next steps after managing the airline &#8220;for about six months&#8221;.</p>
<p>Arik had wanted to expand internationally both to bring in more hard currency, as well as to cushion the impact of the economic slowdown at home, and was looking for new investors to help it grow rather than using debt.</p>
<p>However, AMCON said the state of the airline had turned off prospective investors, with only about 10 planes flying out of a fleet of 30 and total assets of less than 40 billion naira.</p>
<p>&#8220;Converting the airline to a national carrier is not on the table. Government does not have plans to do that. The interest of government is that we must continue to fly,&#8221; Kuru said.</p>
<p>Arik generates around 7 billion naira monthly but would need around 10 billion naira to stabilise it, Kuru said, adding he expected the airline to be able repay the intervention monies within the next three months.</p>
<p>AMCON was thinking of suspending Arik&#8217;s international flights to save cost and focus on domestic routes, Kuru said.</p>
<p> </p>
<p>(Writing by Chijioke Ohuocha; Editing by Alexander Smith)﻿</p>


Nigeria takes controls of Arik Air to stabilise it ahead of sale

<p>African budget airline Fastjet said it would seek more funds sooner than originally expected to achieve a turnaround, prompting Chairman Colin Child to resign on Friday after months of the company battling its second-biggest investor to retain him.</p>
<p>Fastjet said the cost and terms associated with returning leased aircraft had been more onerous than previously expected, leading it to believe that it would need to raise further capital.</p>
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<p>&#8220;Having led the fund raising exercise in July this year Child believes that it would not be appropriate for him to continue in this role given the company is initiating, sooner than originally expected, a further fund-raising exercise,&#8221; the company said in a statement.</p>
<p>Nico Bezuidenhout, who joined as CEO from rival Mango Airlines, would assume the role of interim chairman until a new permanent non-executive replacement was appointed, Fastjet said.</p>
<p>EasyGroup Holdings Ltd, which owns 12.6 percent of Fastjet shares, had earlier this year sought to oust Child saying he failed to relocate the airline&#8217;s head office quickly and criticised him for a high cost base, arguments similar to those it used to push for the exit of former CEO Ed Winter in March.</p>
<p>Fastjet said on Friday it planned to complete its fund-raising exercise in the first quarter of 2017.﻿</p>
<p> </p>


Africa's Fastjet seeks more funds, chairman resigns

<p>South Africa&#8217;s Finance Minister Pravin Gordhan has conditionally approved an application from the cash-strapped national airline for a guarantee as a going concern, the ministry said on Friday.</p>
<p>South African Airways (SAA) has been surviving on state-guaranteed loans and has failed to submit financial statements for the past two years, with results for 2015/16 held back after the Treasury refused to grant it 5 billion rand ($346 million) in additional loan guarantees.</p>
<p>&#8220;SAA’s application for a going concern guarantee has been approved with conditions which include (that) the primary focus of the board must be to return the airline to financial sustainability,&#8221; a finance ministry statement released after Gordhan met SAA&#8217;s new board said.</p>
<p>It said funding must be secured to meet the airline’s liquidity requirements and that SAA should work with the National Treasury and the public enterprises department on the potential introduction of a strategic equity partner.</p>
<p>The government last week reappointed Dudu Myeni, an ally of President Jacob Zuma, as SAA&#8217;s chairwoman, despite objections from the main opposition party which holds her responsible for the crisis at the airline.</p>
<p>On Wednesday Gordhan told parliament that he wanted SAA to become financially viable in five years&#8217; time and to discontinue unprofitable routes.</p>
<p>($1 = 14.4400 rand)</p>
<p> </p>


South Africa's finmin approves cash-strapped national airline application

<p>South African Airways said on Monday it has been granted a three-week extension to submit financial statements to Hong Kong or risk losing the lucrative Asian route.</p>
<p>The state-owned carrier, which has failed to publish annual statements for the past two years and is in danger of defaulting on its debt, was initially given a Sept. 6 deadline by Hong Kong.</p>
<p>The deadline has now been pushed back to Sept. 30, SAA spokesman Tlali Tlali said.</p>
<p>&#8220;We are confident that we will meet all outstanding requirements. It is extremely unlikely that SAA&#8217;s service on this route will be terminated,&#8221; Tlali said.</p>
<p>Marred by controversy and financial mismanagement, the airline has been surviving on state guarantees of around 14.4 billion rand ($1 billion) and has been singled out amongst other state companies by ratings agencies as a major risk to the country&#8217;s investment grade status.</p>
<p>Its results for 2015/16 have been held back by the Treasury&#8217;s refusal to grant the loss-making carrier 5 billion rand in additional guarantees.</p>
<p>In a newspaper notice last week, the airline said it planned to raise 16 billion rand from lenders. </p>
<p>The main opposition party, Democratic Alliance, said on Monday it planned to challenge Friday&#8217;s reappointment of Dudu Myeni as SAA&#8217;s chairwoman, accusing her of being responsible for the crisis at their airline. </p>
<p>($1 = 14.3926 rand)</p>
<p> </p>


South African Airways granted extension to file in Hong Kong

<p>South Africa&#8217;s government has reappointed Dudu Myeni as the chairwoman of South African Airways, the loss-making state-owned airline, it said on Friday.</p>
<p>The cabinet said Myeni, an ally of President Jacob Zuma, was appointed alongside 11 other board members to the board of SAA. The new team will meet the Minister of Finance Pravin Gordhan who will provide direction from a shareholder perspective, it said in a statement.</p>
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<p>On Thursday a Finance Ministry source said officials in the department had opposed Myeni&#8217;s selection, but had managed to push through some preferred candidates to the cash-strapped airline&#8217;s new board.</p>
<p>SAA has been surviving on state-guaranteed loans and has failed to submit financial statements for the past two years, with results for 2015/16 held back after the Treasury refused to grant it 5 billion rand ($343 million) in additional loan guarantees.</p>
<p>Myeni&#8217;s reappointment comes two days after asset manager Futuregrowth said it had halted lending to state-owned firms over concerns of political interference in their administration.</p>
<p>In December Zuma denied rumours that he had had an affair with Myeni or that their ties had led to the sacking of then-finance minister Nhlanhla Nene, who had rebuked Myeni for mismanaging a 1 billion-rand deal with Airbus.</p>
<p>Critics say government plans to form a new committee to be supervised by Zuma that would oversee state-owned enterprises like SAA will limit Gordhan&#8217;s control over firms.</p>
<p>The rand has slid more than 8 percent against the dollar since Aug. 23, also on renewed fears that Gordhan could be charged over the activities of a surveillance unit set up when he was head of the tax department which police say illegally spied on politicians.</p>
<p>($1 = 14.5933 rand)﻿</p>
<p> </p>


airline

SAA cancels some flights as airline fights for survival

Jambojet CEO Kilavuka speaks about expanding East Africa footprint

Ethiopian Airlines annual revenue jumps to 29%, what you need to know

Ethiopian Airlines sees jump in operating revenue as passenger numbers rise

Low cost carrier Jambojet eyes East Africa expansion for growth

How Kenya Airways plans to double its fleet over the next 5 years

SAA needs $540 million from next month to fund day-to-day operations

Ethiopian Airlines will resume flights to Mogadishu for the first time in four decades

Kenya government says to guarantee $750 mln in Kenya Airways debt

Britain’s Heathrow says BA still experiencing some disruptions

Rwanda replaces airline CEO, gives no reason

Rwanda’s airline to start flights to London

Nigeria takes controls of Arik Air to stabilise it ahead of sale

Africa's Fastjet seeks more funds, chairman resigns

South Africa's finmin approves cash-strapped national airline application

South African Airways granted extension to file in Hong Kong

South Africa's government reappoints Dudu Myeni as chairwoman of national airline

News Tips

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airline

SAA cancels some flights as airline fights for survival

Jambojet CEO Kilavuka speaks about expanding East Africa footprint

Ethiopian Airlines annual revenue jumps to 29%, what you need to know

Ethiopian Airlines sees jump in operating revenue as passenger numbers rise

Low cost carrier Jambojet eyes East Africa expansion for growth

How Kenya Airways plans to double its fleet over the next 5 years

SAA needs $540 million from next month to fund day-to-day operations

Ethiopian Airlines will resume flights to Mogadishu for the first time in four decades

Kenya government says to guarantee $750 mln in Kenya Airways debt

Britain’s Heathrow says BA still experiencing some disruptions

Rwanda replaces airline CEO, gives no reason

Rwanda’s airline to start flights to London

Nigeria takes controls of Arik Air to stabilise it ahead of sale

Africa's Fastjet seeks more funds, chairman resigns

South Africa's finmin approves cash-strapped national airline application

South African Airways granted extension to file in Hong Kong

South Africa's government reappoints Dudu Myeni as chairwoman of national airline

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