South African Express (XZ, Johannesburg O.R. Tambo) has announced it will resume commercial flight operations later this week.
Interim Chief Executive Officer, Siza Mzimela, said in a communique that, aside from the reinstatement of its Air Operator's Certificate (AOC), SA Express had now secured Certificates of Airworthiness for "most" of its 11 initial aircraft, with the remaining ten expected to be given the green light soon.
“We are delighted that we have now satisfied the concerns that the regulator had leading to our temporary grounding at the end of May this year. This has paved the way for us to prudently and incrementally reintroduce our flights as from Thursday, August 23, 2018,” she said.
SA Express has experienced significant financial challenges since 2011/12 resulting in its current poor financial performance and position. According to the South African Department of Public Enterprises, the state-owned carrier's projected loss for the 2017/18 financial year is ZAR189 million rand (USD12.9 million). As of December 31, 2017, its net equity position stood at negative ZAR71 million, thus requiring the...
