Fly-SAX buys SA Express for R50 million

Fly-SAX has emerged as preferred bidder for SA Express, as reported by ATC News.

SA Express, which has been in liquidation since April 2020, has been purchased for an estimated value of R50 million.

South Africa’s public enterprise department last week confirmed the intention to sell the airline’s assets. SA Express currently owes creditors around R980-million and South African Revenue Service (SARS) R150-million.

Source: Logistics Update Africa