South Africa: Successful SA Express Bidder Cherry-Picks Airline's Aviation Assets

Fly SAX wants to only purchase SA Express's flight routes, landing rights and aviation-related licences. The offer excludes SA Express assets, including its aircraft fleet, engine parts and spares for the aircraft. These assets will be sold through a public auction.

An entity led by SA Express workers is only interested in buying the airline's entire shareholding from the government and aviation assets that are lucrative.

Fly SAX, which was founded by a group of SA Express workers and recently emerged as successful in the airline's sale process, wants to only purchase SA Express's flight routes, landing rights, and aviation-related licences. Most of SA Express's value lies in its aviation licences because, without them, the troubled airline will not be able to restart its operations.

Fly SAX's buyout offer excludes SA Express assets including its aircraft fleet, engine parts, and spares for the aircraft. These assets will be sold through a public auction on 18 November by GoIndustry DoveBid Africa, an operator of online auctions that was hired by the team of SA Express provisional liquidators.

SA Express flights were grounded in February after the airline was successfully placed under involuntary business rescue by the High Court in...

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