The airline said a 60-page prospectus would be made available "and only be presented to hooked up investors after they have deposited the funds". The airline said the prospectus would contain the facts that an investor would need to make an informed investment decision.
A share certificate will be issued only once a decision is received in writing and Skywise will reserve its right to accept or reject the offer and would refund the investment if it is not accepted, it said. The airline has created a special website for this investment purpose.
Airports Company SA (Acsa) suspended Skywise's flights on December 2 due to unpaid airport charges for landing, take off, parking of aircraft and related service charges. After a request for a delay, payment by 48 hours was refused, Skywise addressed an open letter to President Jacob Zuma and Deputy President Cyril Ramaphosa to say the aviation industry is a catalyst to economic growth.
"In South Africa it is a world where a few people influence the decision-making processes for their own benefits, and are responsible for the previous failure of 11 private airlines," the letter claimed. Skywise pointed out that it is 100% privately owned and R65m of private funds had been invested in the airline, which employs more than 200 people. The airline also turned to Minister of Transport Dipuo Peters, asking her to implore SAA to accommodate all its passengers scheduled to travel between December 4 and 10.
In a comprehensive response, Peters told Skywise that it is the airline's responsibility to accommodate its affected passengers. The department did, however, ask SAA to assist where possible with the understanding that payment arrangements would be made accordingly. On Friday afternoon, Skywise indicated that it is willing to pay SAA R1.1m to transport its passengers scheduled to travel between December 4 and 10 2015.
Peters informed Skywise that its suspension relates to a contractual matter and the plea for help should be made directly to Acsa and the relevant SOEs. The department, therefore, referred the matter back to Acsa for consideration and a final decision.
The Air Services Licensing Council will meet on December 9 in order to determine whether Skywise can resume flights again on December 10 as requested or not, according to Peters.
In a statement issued on Saturday, Skywise referred to a leaked document for which SAA had sought a gag order against certain media, because it claims it could harm it in litigation over disputes with companies like Airbus. "While we strongly believe that SAA is our national pride, Skywise has been the victim of serious reputational damage twice. Why do not all airlines enjoy this privilege?" Skywise asked regarding the SAA gag order.
Source: Fin24
Read this report on News24Wire.com.
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