Suitors line up for stake in Skywise - owners | Fin24
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Suitors line up for stake in Skywise - owners

Apr 25 2016 17:14
Carin Smith

Cape Town - Grounded low-cost airline Skywise announced on Monday that it is considering selling off a sizable stake in the airline.

According to a statement issued by the airline, six companies have already expressed interest in such an acquisition. Of the six potential investors, four are foreign-based, while two are from South Africa.
"Due to the Air Services Licensing Act only allowing 25% foreign shareholding, the lucrative offers from the foreign carriers are under negotiation," said Skywise.
Co-chairs Tabassum Qadir and Javed Malik said they are open to let go more than 50% of their share, but only to the local investors.

"The current expressions of interest from the local investors are being analysed. Our dream is to see Skywise airline in the air, conquering African skies and winning back the hearts of consumers,” they said.

Airports Company SA (Acsa) suspended Skywise's flights on December 2 due to unpaid airport charges for landing, take off, parking of aircraft and related service charges. At that time Skywise had already appealed to President Jacob Zuma, Deputy President Cyril Ramaphosa, Minister of Transport Dipuo Peters, Acsa and South African Airways for assistance. It also sought investors.

Skywise brand ambassador Ndileka Mandela, a granddaughter of Nelson Mandela, also expressed the wish that the authorities would resolve the issue of the grounding of Skywise flights.

Acsa maintains its decisions regarding Skywise were taken in its own best commercial interests, and to ensure the sustainability of the aviation industry. 

acsa  |  skywise  |  aviation  |  airlines  |  low cost airlines


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