Sun Air begins South Africa airline sales

Article Abstract:

State airline of South Africa Sun Air has been purchased by the Rethabile Comair consortium, reportedly for $10.7 million. The consortium includes internal airline Comair and black empowerment group Rethabile. Loss-making South African Airways (SAA) is also due to be sold off, with interest coming from Virgin Atlantic and British Airways. The South African government is planning to offer 20% of its future sale of 49% of Airports Company to foreign investors. The company increased profits by 19% to $33.9 million in 1997 over 1996. Black power groups may demand a percentage of shares in a future sell-off of diamond mining concern Alexcor.

South Africa, Privatization, Privatization (Business), Rethabile Comair, Sun-Air, Alexcor

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Balkan Air to take off in May

Article Abstract:

Alen Mak's second attempt at privatisation has failed because none of the bids met the criteria established in the tender. A 51% share of the Bulgarian cosmetics manufacturer was being offered for sale, for at least $9.2 million. The privatisation of Balkan Air, has led to 10 bidders showing an interest in purchasing up to 80% of the airline. Balkan Air is the national Bulgarian airline. Some of the bidders will be asked to make a more detailed offer for the company, at the start of May 1998.

Toilet Preparation Manufacturing, Intnl & Territorial Air Service, Toilet preparations, Toiletries & Cosmetics NEC, Toiletries, Cosmetics industry, Bulgaria, Alen Mak, Balkan Air

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Difficulties for Portugal's TAP

Article Abstract:

The article discusses the probability that Portuguese national airline, Transportes Aereos Portugueses (TAP), may finally be privatized this fall, and TAP's still uncertain future. TAP's disagreement with Portugalia over the cancellation of a code share agreement, its bottom line, and the financial strain caused by the carrier's accord with pilots are all mentioned in the article.

Asset sales & divestitures, Acquisitions & mergers, Switzerland, Portugal, Transportes Aeros Portugueses EP, SWISSAIR Schweizerische Luftverkehr AG

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