The business rescue practitioner overseeing Fly Blue Crane’s re-engineering process Etienne Naude says he is confident that the airline will overcome its current problems and go on to prosper.
He has also been encouraged by the high morale, determination, and focus of both the management team and general staff at Fly Blue Crane in the time that he has worked with them, Naude said in a statement on Sunday.
“I’m very confident about the airline’s future and have every reason to believe that it is a matter of time before Fly Blue Crane overcomes its challenges. Yes, there is lots of hard work ahead but all is well and the airline is operating as usual and servicing its routes. The management and staff are here and working very hard and looking very motivated and determined.
“I’ve also met all of Fly Blue Crane’s major business partners and all of them have pledged their support and said that they are keen to see the airline thriving. It is for these reasons that I’ve no doubt that the business rescue process will provide the company with the opportunity it needs to restructure its affairs, enter into and conclude its discussions with potential key strategic partners, and negotiate workable payment arrangements with creditors,” he said.
Fly Blue Crane lodged a voluntary application for business rescue late last year to facilitate the rehabilitation of the company. This meant that the airline would operate under the supervision of a business rescue practitioner as the restructuring of the company took place, until it overcame its problems.
Naude said while the business rescue process was not yet as widely practiced in South Africa as it was globally, it was nevertheless on the increase and allowed for the necessary restructuring of companies to the benefit of all stakeholders, including creditors and employees.
“As unfortunate as it is, it is normal for companies to find themselves in distress due to any number of circumstances which can be overcome given time, support, and diligent management. In that event, the business rescue process provides companies with the requisite space to re-organise and restructure their operations, while saving jobs and continuing to trade normally,” he said.
Fly Blue Crane was also in the process of evaluating its routes as part of its re-engineering programme, including fine-tuning its schedules to some destinations during low seasons, such as the end-of-year break when business customers in some markets were away on holiday.
“This occasionally means pulling back on the number of flights to such destinations during these periods with normal service resuming as soon as the core travelling base is back. We sincerely apologise to our valued customers who would be inconvenienced by these necessary flight adjustments,” Naude said.