Flying in a holding pattern as cash burns
In the domestic market, supply currently outstrips demand
08 August 2021 - 00:07
SA's airlines, which have been haemorrhaging money since March last year amid stringent travel restrictions, are in for a tough ride for at least the next year to 18 months, with survival odds favouring those that have access to cash and can cut fixed costs.
Wrenelle Stander, the new CEO of the Airlines Association of Southern Africa, says as it stands, airlines find themselves "in a holding pattern" doing what they can to survive. "They have to have access to cash while they are in this holding pattern. In addition, they would have hopefully cut their fixed costs so they are not burning as much cash."..
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