Latest news with #SouthAfricanAirways
The South African
13 hours ago
- Business
- The South African
A new international flight from Cape Town kicks off this December
South African Airways (SAA) is set to expand its regional network with the launch of its first-ever direct flights between Cape Town and Mauritius. The service will take off on Tuesday, 9 December 2025, offering travellers in the Western Cape a faster and more convenient link to the popular African island nation. The new international route is expected to boost tourism for both South Africa and Mauritius. The airline will initially operate three weekly flights to the island on Tuesdays, Thursdays, and Saturdays, according to the following schedule: Outbound flight: Departs Cape Town at 09:25, arriving in Mauritius at 16:30 (approximately five hours). Departs Cape Town at 09:25, arriving in Mauritius at 16:30 (approximately five hours). Return flight: Departs Mauritius at 17:20, landing in Cape Town at 21:30. Then, from mid-January to mid-March 2026, the route will shift to twice-weekly operations to align with seasonal travel demand. SAA described the launch as a key milestone in its network strategy as well as a win for leisure travellers. 'Connecting Cape Town with Mauritius is a fascinating achievement that our team has been aspiring towards for quite some time,' the airline said, as per BusinessTech . 'The introduction of this route demonstrates SAA's role in promoting leisure travel across the region and supports the broader tourism objectives for both South Africa and Mauritius.' it added. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Time Out
13 hours ago
- Business
- Time Out
The Airlink sale you don't want to miss + SAA to launch new Mauritius route
It's the Airlink sale you don't want to miss - today only! Airlink is running a special one-day promotion today, Tuesday, 29 July 2025, offering 30% off the base fare on selected flights. Tickets are valid for 12 months from the date of purchase, making it the perfect time to plan and save. It's the perfect time to plan your mini-break from Cape Town to Durban, Namibia or St Helena - all routes offered by the Southern African airline. Full details and bookings for the limited Airlink sale are available here. SAA Launches Direct Cape Town–Mauritius Flights Ahead of Festive Season South African Airways (SAA) will launch a new direct route between Cape Town and Mauritius from Tuesday, 9 December 2025, enhancing regional connectivity for travellers in the Western Cape. Flights will operate three times a week—on Tuesdays, Thursdays, and Saturdays—with two departure time options. Each leg of the journey will take approximately five hours. Between mid-January and mid-March 2026, flights will reduce to twice weekly in line with seasonal demand. SAA CEO Professor John Lamola says the route supports broader tourism goals for both countries, while CCO Tebogo Tsimane highlights the schedule's alignment with peak travel periods.
IOL News
16 hours ago
- Business
- IOL News
South African Airways connects Cape Town to Mauritius with new direct flights
There is no shortage of activities to explore beyond the sandy beaches in Mauritius. Flights are set to start on December 9, with flights scheduled to operate three times weekly on Tuesdays, Thursdays and Saturdays. South African Airways (SAA) has announced plans to initiate its first-ever direct flights between Cape Town and Mauritius . "Connecting Cape Town with Mauritius is a fascinating achievement that our team has been aspiring towards for quite some time. The introduction of this route demonstrates SAA's role in promoting leisure travel across the region and supports the broader tourism objectives for both South Africa and Mauritius," said SAA chief executive officer, Professor John Lamola. In light of evolving travel demands, a temporary adjustment will occur between mid-January and mid-March 2026. "This convenience of the flight schedule was carefully developed through rigorous engagement with our South African tour operator partners to ensure it aligns with traveler preferences and peak holiday planning," added Tebogo Tsimane, chief commercial officer. For travellers venturing to the tropical paradise of Mauritius, there is no shortage of activities to explore beyond the sandy beaches.
The Citizen
21-07-2025
- Business
- The Citizen
SAA is bleeding money
SAA suffered a net loss of R354m, after R210m profit the previous year. The recovery of the airline as a global aviation brand is on track, says its CEO. Picture: Moneyweb Transport Minister Barbara Creecy's words that South African Airways (SAA) was finally in a position to contribute economic value weren't even cold when audited financial results for the financial year indicated the opposite. While the company generated revenue of R7.0 billion – a 23% year-on-year increase – the group also reported a net loss of R354 million, compared to a profit of R210 million in the prior year, SAA spokesperson Vimla Maistry said. SAA's financial standing This follows the annual general meeting on 17 July, which received the audited financial results for the year ended 31 March 2024 (FY2023-24). 'Besides the R415 million foreign-currency translation loss due to the rand's volatility, these results reflect the impact of exogenous factors on the airline,' Maistry said. 'This includes the effects of the Ukraine conflict, which pushed jet fuel costs from R1.3 billion to R1.9 billion; a global shortage of aircraft, which drove leasing costs up by over 30% in 2023; and delays in the delivery of budgeted aircraft, all of which negatively impacted revenue and Ebitda (earnings before interest, taxes, depreciation and amortisation). 'The latter declined from a positive R436 million in the prior year, to a negative R90 million.' Maistry said SAA's cash and cash equivalents position remained strong at R1.4 billion at the end of FY2023-24. The airline has zero borrowings and R6.4 billion in equity. 'Despite global aircraft availability constraints, during 2023- 24, SAA operated on average, with a fleet of 10 aircraft serving 15 destinations. The number of flights flown increased by 42%, with a significant increase in flights into Africa and routes from Johannesburg and Cape Town to Sao Paulo starting in the second half of the financial year,' she said. ALSO READ: Man who stole airport equipment that prevents mid-air collisions sentenced to 10 years Uncertainty in SAA's resuscitation SAA Group CEO John Lamola said the results detail a past phase of uncertainty in the airline's resuscitation. 'Since then, we have entered a period of structured and strategic reconstruction of the business, focusing on institutionalising robust governance and management systems, while implementing plans on fleet modernisation and route network expansion,' he said. Lamola said the financial statements mark the last of the outstanding audits from the business rescue period, with all prior-year adjustments resolved. 'SAA recognised a R431 million gain by derecognising business rescue creditor obligations and recording this amount as sundry income,' he said. 'However, the auditors concluded this amount should have been recognised as a prior-period adjustment to retained earnings, rather than in sundry income in the current year. 'As a result, the group's net result has been restated from a profit of R71 million to the reported loss of R354 million.' ALSO READ: SAA hit by 'significant' cyberattack disrupting internal operations 'They got money for mahala' Lamola said to reinforce its financial reporting, SAA's board has launched an Audit Health Plan that standardises key controls, expands internal audit capacity and strengthens collaboration with external auditors. 'After six consecutive audits in three years, SAA is firmly back on track to meet all statutory reporting deadlines and to devote its efforts towards improved audit outcomes,' he said. Economist Dawie Roodt said it was 'a big mess' that could no longer be whitewashed. 'I don't know what the accounting error is, but I suspect it has to do with impairment. Usually, if there are assets that you think you can't realise, then you write off the assets.' Roodt said SAA got an equity injection to try to rescue it. 'They got money for mahala. They tried to whitewash it,' he said. Political expert Piet Croucamp said bookkeeping got the better of the chief financial officer at SAA. 'It just proves what we have been saying for years. SA should not have a national carrier. They neither have the political will, nor the skills to manage the entity. 'They keep on trying and the public is paying for it,' he said. READ NEXT: SAA slips back into loss as fuel and plane leasing costs spiral
The Citizen
18-07-2025
- Business
- The Citizen
SAA slips back into loss as fuel and plane leasing costs spiral
Reports a R352m loss for the last financial year after a R210m profit in 2024. The recovery of the airline as a global aviation brand is on track, says its CEO. Picture: Moneyweb Soaring fuel prices and a 30% increase in plane leasing costs pushed airline operator South African Airways (SAA) into a R352 million loss for the year to March 2025, despite a 23% increase in revenue to R7 billion. This follows a R210 million profit the prior year. Rand volatility resulted in currency translation losses of R415 million. The airline was hit with several external shocks, such as a 46% increase in fuel costs to R1.9 billion due to the Ukraine conflict and a global shortage of aircraft which pushed up leasing costs by 30%. Delays in the delivery of budgeted aircraft had a negative impact in revenue and earnings before interest, tax, depreciation and amortisation (Ebitda), which reversed from a positive R436 million in 2024 to a negative R90 million in 2025. The cash position remains strong at R1.4 billion at year-end. It also has zero borrowings and R6.4 billion in equity. The airline received R50.7 billion in government bailouts between 2007 and 2022. ALSO READ: Has SAA turned the corner or is it flying too close to the sun? Routes and aircraft SAA currently serves 17 destinations, including two intercontinental routes to Perth in Australia, and São Paulo in Brazil. In January this year it extended services to Dar es Salaam in Tanzania and Lubumbashi in the Democratic Republic of Congo, bringing its total coverage to 17 destinations in 12 countries. Through the Star Alliance with 25 other member airlines, it provides services to 192 countries. In the 2024 financial year it operated just 10 aircraft serving 15 destinations. The number of destinations increased 42% over the last financial year, with new flights into Africa and flights to São Paulo from both Johannesburg and Cape Town. Earlier this year it expanded its fleet to 20, announcing plans to expand this further to 25 before yearend. This compares with its fleet of 49 aircraft in 2019, prior to being placed in business rescue. The airline was taken out of business rescue in 2021. The airline's waning financial position was aggravated by the Covid shutdowns in 2020, resulting in the suspension of services to long-haul destinations such as London, New York and Hong Kong. ALSO READ: SAA quietly lifts off as load factors show signs of recovery 'Strategic reconstruction' 'These results detail a phase of intense uncertainty in the resuscitation of SAA as the assumption of the company's control by the strategic equity partner was awaited,' says Group CEO John Lamola. 'Since then, we have entered a period of structured and strategic reconstruction of the business, focusing on institutionalising robust governance and management systems, whilst implementing plans on aircraft fleet and route network expansion and elevation of customer experience'. The latest financial results mark the last of the outstanding audits from the business rescue period, with all prior year adjustments now resolved. A case in point is R431 million recognised as a prior year adjustment to retained earnings rather than sundry income in the current year. This amount relates to business rescue creditor obligations. ALSO READ: SAA heading for crash unless equity partner comes on board Audit Health Plan To strengthen its financial reporting, SAA says it has launched a programme called Audit Health Plan to standardise key controls, expand internal audit capacity and strengthen collaboration with external auditors. 'After six consecutive audits in three years, SAA is firmly back on track to meet all statutory reporting deadlines, and to devote its efforts towards improved audit outcomes,' says the company in a statement. Despite the loss for the year, Lamola believes SAA is on the recovery track. 'We have strengthened the channels of our revenue streams and cost containment measures; we have a debt-free, asset-rich balance sheet that is supporting the steady growth of the airline and the recovery of SAA as a global aviation brand.' This article was republished from Moneyweb. Read the original here.
