Fly SAX needs to solely buy SA Specific’s flight routes, touchdown rights and aviation-related licences. The supply excludes SA Specific property, together with its plane fleet, engine elements and spares for the plane. These property might be offered by way of a public public sale.
An entity led by SA Specific staff is barely concerned about shopping for the airline’s total shareholding from the federal government and aviation property which might be profitable.
Fly SAX, which was based by a gaggle of SA Specific staff and not too long ago emerged as profitable within the airline’s sale course of, needs to solely buy SA Specific’s flight routes, touchdown rights, and aviation-related licences. Most of SA Specific’s worth lies in its aviation licences as a result of, with out them, the troubled airline will be unable to restart its operations.
Fly SAX’s buyout supply excludes SA Specific property together with its plane fleet, engine elements, and spares for the plane. These property might be offered by way of a public public sale on 18 November by GoIndustry DoveBid Africa, an operator of on-line auctions that was employed by the group of SA Specific provisional liquidators.
SA Specific flights had been grounded in February after the airline was efficiently positioned beneath involuntary enterprise rescue by the Excessive Court docket in…