Van der Molen: Safair ignores SA ownership laws and heavily subsidised by Irish parent
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- เผยแพร่เมื่อ 30 ก.ย. 2024
- Accounts publicly available in in Ireland’s Companies Office show that since 2019, SA’s dominant domestic airline, Safair, has been 75% owned by European operator ASL Holdings - contravening South African regulations stipulating a 25% foreign limit. Cemair founder and CEO Miles van der Molen believes since May last year its Irish parent has been subsidising Safair by some R100m a month. In this hard-hitting interview, Van der Molen says it’s no innocent oversight by Safair, which was taken to task on the same issue in 2014. After initially complying, records show the airline quietly injected the shares into an SA shell company owned by its Irish parent. He spoke to BizNews editor Alec Hogg.
Video production by Asime Nyide
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Who cares owns an airline who is prompt, professional, reasonably priced and employs hundreds of people? What's the other choice... SAA?? I don't think so.
Profits are sent to foreigners not South Africans, less of our money will circulate in our economy, meaning less wealth for South Africans in general🤷♂️🚩
@@IsmaelNxala read the article... Its loosing 100million a month so what profits are you talking about?
@@bryancoulter5998missing the point here... Someone has paid off officials to get a license despite flouting SA laws... Local companies are being strangled to the eventual benefit of foreign owners when local players close down. I wouldn't be surprised if Pravin has his finger in this pie... Kill off local competition to SAA... Maybe they made Gupta style secret deals... Company Capture???
Good on SAFair for operating a successful company 👍
Don't care if they are not SA owned. At least they keep flying, unlike SAA.
😂 so even if they breaking the law u 👏 👏 👏 👏 😆 I guess when one does wrong u call it out but when the other does wrong 👏 👏 👏 😂😂
@@kernboucher436
maybe see my other comment regarding law change 🤣🤣🤣
Why does this madala sound a bit bitter? He says it's a guess that SAFAIR has lost R100million. A guess??! You need to be bloody sure if want to make allegations buddy.
I will not use SAA and Airlink as a matter of principle. Cemair and Safair are equally expensive. Just look at both airline's prices for tickets to George. We are being hold to ransom here. Bring in the foreigners, we need value for money.
SAA ......ANC.....BEE .....BROKE i don't think so! Fly saf air is No 1
R100m/mth loss?? Doesn't add up. FlySafair's planes are full and reasonably priced. Seems to me that by economies of scale they should be profitable. Perhaps sour grapes from competitors who can't keep up.
Well done FlySafair for a great service.
Guys is this not a business channel, seriously, does nobody think this company has not taken legal advice on how they operate in SA ..at this level of investment you can guarantee it..the guest mentioned all the key points, They operate in other countries .. meaning their losses in SA will offset profits in other countries, next a SPV, they have set this up for a reason.. and if they lose their licence they will use those loses for the next 100 years..do you honestly think they have not looked at every single outcome.. and they just hoping and praying to sneak past everything.. doubtful
Ummm... Who cares?
This sounds like sour grapes from SAFAIR competitors. This is business. Sounds like airlines looking protection againt competition and the consumer must pay more.
Google Cemair and safety incidents / irregularities. I wouldn't set foot on one of their planes.
He sounds jealous of the company
Sounds like sour grapes ...
😂😂😂
Hands off SafAir! The only domestic airline that is efficient, on time and well priced! I don't care who owns them and if their owners pay R100m a year to subsidise it, well, thank you!
There are two issues issues 1) local ownership 2) Subsidising a subsidiary . Should the latter apply to all businesses and be illegal .
❤safair
This protectionist law is bad for the consumer.
Change the law and allow local operators to compete on the international market freely.
You mean attracting foreign investment?
ASL (Aircraft, Support & Leasing) Aviation Holdings is a diversified aviation services company based in Dublin Ireland. ASL offers cargo and passenger airline operations; aircraft leasing and maintenance and aircraft parts support. The company offers engineering services through its subsidiary ACLAS Technics and aircraft parts support through ACLAS Global. ASL’s airline subsidiaries/affiliates include:
ASL Airlines Ireland [formerly known as Air Contractors] (100%)
ASL Airlines France [formerly known as Europe Airpost] (100%)
ASL Airlines Hungary [formerly known as Farnair Hungary] (100%)
ASL Airlines Belgium [formerly known as TNT] (100%)
ASL Airlines United Kingdom (100%)
ASL Airline Services Switzerland (100%, ceased Feb-2018)
ASL Airlines Spain (100%, ceased Sep-2018)
Quikjet India [QUIKJET Cargo] (72.59%)
K-Mile Air (45%)
Safair (25%)
Pionair
ASL is owned by one shareholder - STAR Capital Partnership.
ASL Aviation Holdings announced it acquired Pionair Australia in Apr-2023 and will rebrand the carrier as ASL Airlines Australia over time.
Above as per: centreforaviation.com/data/profiles/airline-groups/asl-aviation-holdings
Budget Airlines, the world over, are very hard to be profitable. As a flyer, all I want is a cheap flight. I simply don't care who owns it.
Also, if you can't compete... that's not the problem of your competitor.
Well who is to stop CemAir or anyone else to attract foreign investors. Do you not have a value proposition attractive enough for some foreign investor?
The citizens want cheap air fare...and we don't care how!
Affordability before anything else. Or we simply wont use it!
Smart person in CIPC...lol
Amazing information & even better questions Alec, thank you for sharing!
This type of restrictive ownership is common in many countries. Whether it's good or bad for the country can be debated but it definitely a wealth creator for the elite within it as they have control of the competition wishing to enter and usually get sweetheart deals that enrich themselves and not the country.
Flysafair fly to George from/to Jhb 4 times a day, whereas Cemair fly once a day at a very odd time, which is illigical for our needs. The flights are always full on Safair.
I wouldnt touch SAA thank you very much.
If Cemair had more flights per day, we would consider flying with them.
So. BEE... 😂😂
sout grapes. thank god for airlink, the best airline by far
Isn't this a part of Pravin Gordhams aircraft empire?😃😈🙈🙈🙈😭😭