SA Express announced plans to acquire an entirely new fleet over the next several years, as its management aims to increase capacity and move into larger 70 to 90-seat aircraft (Business Day, 02-Sep-2010). The majority of the carriers fleet is less than 15 years old. Chief financial officer Sikhumbuzo Zulu said the carrier was comfortable that it would be able to raise up to ZAR600 million (USD82.8 million) from its own balance sheet and there was no need to approach the government for support. CEO Inati Ntshanga stated: “We have yet to decide which aircraft type we will be purchasing and so far have only issued a request of interest from the various suppliers."
3-Sep-2010 1:46 PM