• Contact
Saturday, December 9, 2023
  • Login
The African Business - News About African business
  • Home
  • EconomyNew
    african cities

    Building African cities that cope with climate shocks

    Angola china

    Angola and China Sign Investment Protection Agreement

    passport

    ZEP and Lesotho permit holders can stay two more years, but …

    Trending Tags

  • Business
    trafigura 1

    Swiss Accuse Trafigura of Bribing Angolan Public Officials

    huawei

    Huawei, partners push for $100 billion internet connectivity investment across Africa

    Woodside completes Sangomar FPSO construction phase in Senegal

    Angola: Production shutdowns “steal” 92,000 barrels/day of oil from national production

    6 infrastructure projects to drive Angola economic growth

    Services contracted to Angolan companies in the oil sector have reached 13 billion euros.

    Angola Telecomunicacoes

    Angola: “Excessive” State Presence in Telecommunications Hampers Investment in the Sector – Study

    nigeria

    Nigeria has resorted to using small river vessels to deliver oil

    World heritage group clears $5bn dam near Victoria falls

    World heritage group clears $5bn dam near Victoria falls

    Amazon is coming to SA in 2024

    Amazon is coming to SA in 2024

    A new $850m route to speed up Congo’s copper exports

    A new $850m route to speed up Congo’s copper exports

  • Finance
    Nigeria asks banks to save forex gains amid currency risks

    Nigeria asks banks to save forex gains amid currency risks

    PayPal finally launches Apple Pay support for its credit and debit cards

    PayPal finally launches Apple Pay support for its credit and debit cards

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
  • Home
  • EconomyNew
    african cities

    Building African cities that cope with climate shocks

    Angola china

    Angola and China Sign Investment Protection Agreement

    passport

    ZEP and Lesotho permit holders can stay two more years, but …

    Trending Tags

  • Business
    trafigura 1

    Swiss Accuse Trafigura of Bribing Angolan Public Officials

    huawei

    Huawei, partners push for $100 billion internet connectivity investment across Africa

    Woodside completes Sangomar FPSO construction phase in Senegal

    Angola: Production shutdowns “steal” 92,000 barrels/day of oil from national production

    6 infrastructure projects to drive Angola economic growth

    Services contracted to Angolan companies in the oil sector have reached 13 billion euros.

    Angola Telecomunicacoes

    Angola: “Excessive” State Presence in Telecommunications Hampers Investment in the Sector – Study

    nigeria

    Nigeria has resorted to using small river vessels to deliver oil

    World heritage group clears $5bn dam near Victoria falls

    World heritage group clears $5bn dam near Victoria falls

    Amazon is coming to SA in 2024

    Amazon is coming to SA in 2024

    A new $850m route to speed up Congo’s copper exports

    A new $850m route to speed up Congo’s copper exports

  • Finance
    Nigeria asks banks to save forex gains amid currency risks

    Nigeria asks banks to save forex gains amid currency risks

    PayPal finally launches Apple Pay support for its credit and debit cards

    PayPal finally launches Apple Pay support for its credit and debit cards

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
The African Business - News About African business
No Result
View All Result
Home Finance

Kenya Airways, SAA sign deal to form pan-African airline, survive slump in business

TAB by TAB
19/10/2021
in Finance
0
Kenya Airways, SAA sign deal to form pan-African airline, survive slump in business

Kenya Airways, SAA sign deal to form pan-African airline, survive slump in business

0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

Troubled Kenya Airways (KQ) and South African Airways (SAA) have partnered to help shore up their battered revenues.

They signed a memorandum of co-operation on Tuesday aimed at forming a pan-African airline.

Related posts

Nigeria asks banks to save forex gains amid currency risks

Nigeria asks banks to save forex gains amid currency risks

16/09/2023
4
PayPal finally launches Apple Pay support for its credit and debit cards

PayPal finally launches Apple Pay support for its credit and debit cards

09/09/2023
2

Kenya Airways CEO Allan Kilavuka said in a statement Tuesday that the mutual co-operation between the two struggling carriers would help in turning around their fortunes.

“The future of aviation and its long-term sustenance is hinged on co-operation. KQ and SAA collaboration will enhance customer benefits by availing a larger combined passenger and Cargo network, fostering the exchange of expertise, innovation, best practice, and adopting home-grown organic solutions to technical and operational challenges,’’ said Mr Kilavuka.

He said the loss making national carrier, which is a subject of state takeover, remains committed to its financial turnaround strategy with pursuit of partnerships being one of its core strategic pillars.

SAA’s interim Chief Executive Thomas Kgokolo said the cooperation between the two airlines, which includes demand recovery and other cost containment strategies, will aid recovery of both carriers in an increasingly competitive African airline environment.

“It will also enhance related Kenya and South Africa tourism circuits, which sectors account for significant portions of respective country growth domestic product, benefiting from at least two attractive hubs in Johannesburg, Nairobi and possibly Cape Town,” he said.

“KQ and SAA, as iconic airline brands of Africa’s biggest and vibrant economies, in East Africa and Southern Africa, respectively, are at the precipice of what could be Africa’s formidable Pan African airline.’’

KQ, which has forecast a grim full-year performance due to the effects of the Covid-19 pandemic, made a net loss of Ksh11.48 billion ($104.36 million) in the six months period to June 30, 2021, down from a net loss of 14.32 billion ($130.18 million) in the same period last year.

The persistent underperformance of the airline has led to huge losses and loss of market share to rival firms.

As a result, the government has opted to nationalise the carrier by buying out the minority shareholders with hopes of turning around its dwindling fortunes.

On the other hand, South Africa’s embattled national carrier emerged from bankruptcy last week, flying its first plane in the last 18 months. It has not been operating flights since March 2020.

The passenger plane flew from Johannesburg to Cape Town on September 23.

According to Aljazeera, SAA, once Africa’s second largest airline after Ethiopian Airlines, had survived for decades on government bailouts and was shedding routes even before the Covid-19 pandemic struck.

The government agreed in June to sell a 51 percent stake to a group of investors called the Takatso Consortium, opening the way to a potential injection of $200 million.

Even after a state bailout of more than $500 million and a restructuring of its debt, the airline only emerged from bankruptcy after slashing hundreds of jobs.

Source : https://www.theeastafrican.co.ke/tea/business/kenya-airways-south-africa-airways-sign-deal-3565840

Previous Post

Cameroon bets on local manufacturing to boost economy

Next Post

Shoprite nets $10 million from sale of Uganda, Madagascar and Nigeria units

Next Post
Shoprite nets $10 million from sale of Uganda, Madagascar and Nigeria units

Shoprite nets $10 million from sale of Uganda, Madagascar and Nigeria units

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Former Real Madrid Star Reveals Why He Named His Dog After Lionel Messi

Former Real Madrid Star Reveals Why He Named His Dog After Lionel Messi

10 months ago
4
South Africa fans celebrate return to stadium after restrictions lifted

South Africa fans celebrate return to stadium after restrictions lifted

2 years ago
4
Bayern eye January swoop for Osimhen

Bayern eye January swoop for Osimhen

2 years ago
17
MTN starts construction of new head office and 5G trials in Côte d’Ivoire

MTN starts construction of new head office and 5G trials in Côte d’Ivoire

2 years ago
6

BROWSE BY CATEGORIES

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Ads

Categories

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized
The African Business - News About African business

We bring you the best Premium news about African Business.

Follow us on social media:

Recent News

  • Building African cities that cope with climate shocks
  • Swiss Accuse Trafigura of Bribing Angolan Public Officials
  • Angola and China Sign Investment Protection Agreement

Category

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Legal Information

Terms and Conditions
Privacy Policy
Complaints Book

  • Contact

© 2021 The African Business

No Result
View All Result
  • Home
  • Economy
  • Business
  • Finance
  • Opinion
  • Lifestyle
  • Sports
  • Green Economy

© 2021 The African Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In