Aviation

South African Airways to Enter Into Bankruptcy Protection

JOHANNESBURG, 5 December 2019. South African Airways (SAA) is today in a position to announce that the Board of Directors of SAA has adopted a resolution to place the company into business rescue at the earliest opportunity.

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As previously announced, the SAA Board of Directors and the Executive Committee have been in consultations with the shareholder, the Department of Public Enterprises (DPE), in an effort to find a solution to our company’s well-documented financial challenges.

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The considered and unanimous conclusion has been to place the company into business rescue in order to create a better return for the company’s creditors and shareholders, than would result from any other available solution.

Furthermore, the company is seeking to minimize the destruction of value across its subsidiaries and provide the best prospects for selected activities within the group to continue operating successfully.

SAA understands that this decision presents many challenges and uncertainties for its staff. The company will engage in targeted communication and support for all employee groups at this difficult time.

SAA will endeavour to operate a new provisional timetable and will publish details shortly. The company greatly appreciates the continued support of both its customers and partners in the travel industry around the world.

The Board of Directors will also announce the appointment of business practitioners in the near future, and provide media updates as and when appropriate.

It is important to point out that services operated by SAA’s subsidiary airline, Mango, will continue as usual and as scheduled.

ISSUED BY SAA BOARD OF DIRECTORS

Aviation

COMAC Unveils Plans for the C929 to Rival Airbus and Boeing

After the success of China’s first C919 aircraft, the country is setting its sights on developing a larger plane. COMAC (Commercial Aircraft Corporation of China) has officially confirmed plans to build a widebody aircraft, marking a significant step in its aircraft lineup.

Traditionally, Airbus and Boeing dominate the widebody aircraft market, with decades of expertise in developing planes and engines capable of carrying heavy payloads. China, which currently relies on imported engines, is now aiming to challenge these giants with its own widebody jet, the C929, designed to compete with the Airbus A350 and Boeing 777.

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The C929 will be China’s first independently developed long-range widebody aircraft. It adheres to international airworthiness standards and boasts independent intellectual property rights. The baseline version is designed to seat 280 passengers and offers a range of 12,000 kilometers, catering to global demand for both regional and international air travel.

Russia, which also needs reliable narrowbody and widebody aircraft, could become a key customer for the C929. Additionally, China plans to target the broader Asian market as it continues to expand its aviation capabilities.

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China’s aviation progress includes the ARJ21 (now called C909), a regional jet with 100 seats for shorter routes, and the C919, a narrowbody jet with 180 seats designed to rival the Boeing 737 MAX and Airbus A320. Both models have found increasing demand in the domestic market.

At China’s largest air show in Zhuhai, COMAC announced that Air China will be the launch customer for the C929 widebody jet, though details about order size and delivery timelines were not disclosed.

Other major deals announced by COMAC include:

Hainan Airlines: Firm orders for 60 C919 and 40 C909 regional jets.
Colorful Guizhou Airlines: 30 C909 jets, with 20 firm orders and 10 provisional agreements.

The C929, renamed from the CR929 after Russia withdrew from the joint development project in 2023, is expected to carry 280–400 passengers with a range of 12,000 kilometers, competing directly with Boeing’s 787 Dreamliner.

According to COMAC’s deputy general manager, Tong Yu, the first fuselage section of the C929 is expected by September 2027, with prototype test flights anticipated soon after.