Zimbabwean start-up Sol Air details initial network plans

Seventeen bidders vie for SA Express assets

Seventeen parties have submitted expressions of interest (EOI) regarding the sale of South African Express (EXY, Johannesburg O.R. Tambo) which is currently in provisional liquidation.

In June, the bankrupt carrier's joint provisional liquidators (JPL), Tshwane Trust, called for EOIs covering either the sale of the business in its entirety as a going concern, investment as an equity partner, or a buyer for part or all of the airline's assets.

In addition to four CRJ200ERs, General Electric CF34-3B1 powerplants, spare parts, rotables, tools, and support equipment, the asset group includes SA Express's various licences (operator's licence, AOC, AMO, ATNS, ICASA, etc.).

According to a leaked report seen by SA Tourism Update, Liquidity Services/GoIndustry DoveBid, the asset disposal company appointed by Tshwane Trust, compiled the following dossier on the bids that had been submitted:

• Uprise Africa, a South African equity crowd-funding platform, has partnered trade unions NUMSA and SACCA and plans to purchase SA Express as a going concern by investing ZAR75 million rand (USD4.25 million) in cash plus ZAR175m (USD9.93 million) in...

Editorial Comment: Adjusts SIMGROUP's proposal as per company guidance. - 16.08.2020 - 07:07 UTC

FlyAfrica Zimbabwe grounded; undergoes recertification

Zimbabwe's Sol Air nears deal for $100mn in funding

Sol Air (Zimbabwe) (Harare International) is set to secure investment worth USD100 million from a Hong Kong-based investor amid plans to launch domestic Zimbabwean as well as regional operations.

Sol Air Managing Director Nkosilathi Sibanda told The Zimbabwe Independent last week that he had signed an initial agreement with Yaya Sun in early 2017 wherein USD55 million would have been used to get Sol Air beyond the drawing board and into the skies.

However, Yaya is said to have developed cold feet on concerns about US economic sanctions against Zimbabwe as well as its acute shortage of foreign currency.

According to Sibanda, while the deal has since been resuscitated, timelines for the project's commencement are expected once national elections have been held, set for sometime in July/August.

“We have been requested to review our capital requirements from USD55 in-order to have enough working capital. Our advisors have proposed that we seek USD100 million to be on the safe side and our financiers have indicated their willingness to invest that much and a...

1time and Airlink both considering setting up new Zimbabwean airlines

1time airline (Johannesburg O.R. Tambo) and Airlink (South Africa) (4Z, Johannesburg O.R. Tambo) are both considering setting up new airlines in Zimbabwe to fill the void left by Air Zimbabwe (UM, Harare International) which now just irregularily operates some domestic services. Both hope to secure a license in cooperation with local Zimbabwean partners that according to legal regulations in the country would have to hold a 51% stake in the carriers. It remains to be seen if any licenses are in fact issued to local start-ups or South African carriers given decisions on applications by Phoenix Air (Zimbabwe) (Harare International) and Sol Air (Zimbabwe) (Harare International) also seem to have been postponed for now.