Mango to be absorbed into SAA?
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Mango to be absorbed into SAA?
Any truth to the rumour that Mango will be absorbed by SAA? The 737's will be used into Africa and the mini-bus used internally?
Last edited by Boeing797; 10th Mar 2009 at 18:12. Reason: wrong spelling
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Looks like SAX pilots are now freelance reporters for Business Day....
Business Day (Johannesburg)
13 November 2008
Johannesburg
DESPITE a surge in fuel prices in the year to September, regional airline South African Express (SAX) posted a net profit of R201m, boosted by a 14,3% rise in turnover.
In the year under review oil prices surged dramatically, reaching a record $147 a barrel in mid-July. Yet the state-owned airline's total fuel cost decreased 0,1% to R286,87m from R287,17m the year before.
SAX, which did not hedge against the rising oil price during that period, attributed the cost containment to the use of modern, fuel efficient aircraft.
SAX has grown its fleet to 21, taking delivery of two new Bombardier Q400m turboprop aircraft during the year. A further two aircraft will be delivered by the end of the year.
The operating profit margin increased from 19% in the last financial year to 25% this year due to a positive growth in revenue and operational efficiency gains.
"Our financial success is also the result of investing in the right aircraft. Our aircraft are more efficient with lower fuel burn," said CEO Sizakele Mzimela.
She said the volatile oil price continued to pose challenges for SAX. "In response, we have acted swiftly to manage capacity, preserve liquidity and aggressively manage our costs."
During the year the airline increased the number of passengers carried during the 2007-08 financial year 6%.
Rich Mkhondo, head of corporate affairs, said the airline would continue to expand its network in the year ahead.
13 November 2008
Johannesburg
DESPITE a surge in fuel prices in the year to September, regional airline South African Express (SAX) posted a net profit of R201m, boosted by a 14,3% rise in turnover.
In the year under review oil prices surged dramatically, reaching a record $147 a barrel in mid-July. Yet the state-owned airline's total fuel cost decreased 0,1% to R286,87m from R287,17m the year before.
SAX, which did not hedge against the rising oil price during that period, attributed the cost containment to the use of modern, fuel efficient aircraft.
SAX has grown its fleet to 21, taking delivery of two new Bombardier Q400m turboprop aircraft during the year. A further two aircraft will be delivered by the end of the year.
The operating profit margin increased from 19% in the last financial year to 25% this year due to a positive growth in revenue and operational efficiency gains.
"Our financial success is also the result of investing in the right aircraft. Our aircraft are more efficient with lower fuel burn," said CEO Sizakele Mzimela.
She said the volatile oil price continued to pose challenges for SAX. "In response, we have acted swiftly to manage capacity, preserve liquidity and aggressively manage our costs."
During the year the airline increased the number of passengers carried during the 2007-08 financial year 6%.
Rich Mkhondo, head of corporate affairs, said the airline would continue to expand its network in the year ahead.
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C'mon guys. At last count SAA had 10 000+ employees. The latest R100 million bailout is peanuts compared to what the government will have to pay in UIF, social grants and benefits if it closed down SAA and had all those employees putting in claims.
Is there really an airline that is able to fill the void, both domestically and internationally, that SAA would leave? No other airline has the immediate buying power for aircraft. Comair is still hanging onto their old 737-200's and has yet to paint half of their aircraft, Mango is wrapped up as a subsidiary of SAA, SAX has other plans with smaller aircraft and 1 Time is over extended with their recent acquisition of new aircraft!
With the world cup looming the government will not close down SAA. I'm sure there are legal and labour implications with closing down one day and opening up the next as a new company with the same owner. SAA is just another type of public transport in the government's portfolio. There are not too many unsubsidised methods of public transport around the world.
Lets look at the big picture.
Is there really an airline that is able to fill the void, both domestically and internationally, that SAA would leave? No other airline has the immediate buying power for aircraft. Comair is still hanging onto their old 737-200's and has yet to paint half of their aircraft, Mango is wrapped up as a subsidiary of SAA, SAX has other plans with smaller aircraft and 1 Time is over extended with their recent acquisition of new aircraft!
With the world cup looming the government will not close down SAA. I'm sure there are legal and labour implications with closing down one day and opening up the next as a new company with the same owner. SAA is just another type of public transport in the government's portfolio. There are not too many unsubsidised methods of public transport around the world.
Lets look at the big picture.
Last edited by transducer; 12th Mar 2009 at 12:27.
