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MAPUTO, May 29 (Xinhua) -- Mozambique's national flag carrier, Linhas Aereas de Mocambique (LAM), will explore new destinations including Brazil, China, India, and the United Arab Emirates, and reactivate the Maputo-Lisbon route as part of the strategy to rescue the debt-ridden company, LAM's management committee announced Monday.
Mozambique's national airline plans more routes to revitalize company-
Gallo Images/Grant Duncan-Smith SA Express has been in provisional liquidation since April last year after its business rescue process failed. A preferred bidder, Fly SAX, was accepted, but that deal seems to have fizzled out. The provisional liquidators deny having received any "realistic" offer, including from Fly Modern Ark. The provisional liquidators of South African Express (SAX) are still waiting for "a realistic buyer" of the state-owned regional airline. "The liquidators have received several opportunistic claims, none of which have materialised, and no bidder has been able to pr...
MONEYWEB app instead? A new offer has been made to purchase the airline. 00:01 This is Fly Modern Arkâs second bid â in 2020 it offered R100m, with an additional R400m to recapitalise the airline and pay its creditors. Image: Tod Burns Embattled state-owned airline SA Express is only worth R1, according to aviation company Fly Modern Ark. The company, headed by businessman Theunis Crous, has tabled a fresh offer to buy SA Express, which is currently in provisional liquidation. INSIDERGOLD Subscribe for full access to all our share and unit trust data tools, our award-winning a...