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Velvet Sky In South Africa Faces Liquidation  
User currently offlineJasondn From South Africa, joined Nov 2007, 207 posts, RR: 1
Posted (2 years 6 months 3 weeks 6 days 2 hours ago) and read 2585 times:

Does not sound like any good news for the newest LCC start up in South Africa. From my understanding, unless additional funding is found by 5 March and the creditor BP is paid, then that will be the end.

http://www.fin24.com/Companies/Trave...n-application-postponed-20120224-2
http://www.eyewitnessnews.co.za/Story.aspx?Id=83403
http://www.iol.co.za/dailynews/fuel-row-grounds-velvet-sky-1.1242056


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User currently offlineBlatantEcho From United States of America, joined Sep 2000, 1913 posts, RR: 1
Reply 1, posted (2 years 6 months 3 weeks 5 days 23 hours ago) and read 2431 times:

I flew JNB-CPT yesterday and the Velvet Sky gates were a mess.

People were being told there was a delay every two hours... Some people had been waiting since 6am for their flight and every 2 hours they were told the delay would be two more hours....

Not a lot of happy people there yesterday.



They're not handing trophies out today
User currently offlineJasondn From South Africa, joined Nov 2007, 207 posts, RR: 1
Reply 2, posted (2 years 6 months 3 weeks 3 days 23 hours ago) and read 1918 times:

Velvet Sky has ceased operations until 5 March.

Sad day - thoughts go to all the employees

http://www.news24.com/SouthAfrica/Ne...lvet-Sky-flights-grounded-20120227

I wonder if they will return to the skies.


User currently offlineSA7700 From South Africa, joined Dec 2003, 3431 posts, RR: 25
Reply 3, posted (2 years 6 months 3 weeks 3 days 22 hours ago) and read 1880 times:
AIRLINERS.NET CREW
HEAD MODERATOR

My apologies for being cynical but I knew they would not last. Competition is fierce on the so-called "Golden Triangle" while business people does not seem to realize, IMHO, that there are extremely good opportunities available on secondary routes with the proper air fleet in place.



Rgds

SA7700



When you are doing stuff that nobody has done before, there is no manual – Kevin McCloud (Grand Designs)
User currently offlinePezySPU From Croatia, joined Dec 2011, 283 posts, RR: 0
Reply 4, posted (2 years 6 months 3 weeks 3 days 18 hours ago) and read 1786 times:

Quoting Jasondn (Reply 2):

The article is a bit unclear, it says the company ceased ops due to the "unavailability of fuel". I guess it means suppliers were requesting advance payments which Velvet couldn't provide as it ran out of cash?


User currently offlineSA7700 From South Africa, joined Dec 2003, 3431 posts, RR: 25
Reply 5, posted (2 years 6 months 3 weeks 3 days 18 hours ago) and read 1741 times:
AIRLINERS.NET CREW
HEAD MODERATOR

I'm no airline economist, but this should immediately raise red flags:

BP's attorney Thulani Mciwa said in court papers that in view of Velvet Sky's obvious credit difficulties it would not be able to obtain aviation fuel from any major fuel companies in South Africa.

He had heard that Velvet Sky was living from hand to mouth by using credit cards to buy small amounts of fuel from other sources.


Velvet Sky liquidation application postponed


Rgds

SA7700



When you are doing stuff that nobody has done before, there is no manual – Kevin McCloud (Grand Designs)
User currently offlinebennett123 From United Kingdom, joined Aug 2004, 7610 posts, RR: 3
Reply 6, posted (2 years 6 months 3 weeks 3 days 17 hours ago) and read 1695 times:

Seems that it nearly lasted 1 year.

http://www.airfleets.net/flottecie/Velvet%20Sky-active-b737.htm

All the planes are leased, so it will be RTL.

Seems likely that it will disappear pretty quickly.

Hopefully the staff will soon find new jobs.


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