In the past financial year, it has made a loss of R378 million.ATNS is the sole provider of air traffic, navigation, training and associated services within South Africa and is also responsible for Air Traffic Control throughout the Africa Indian Ocean region.
Moholola says, “ATNS has almost depleted its cash reserves and as a result there is a need to engage with the shareholder on a possible funding for imminent capital expenditure programme. I must indicate that at the start of COVID, ATNS had cash reserves of R1.6 billion. Unfortunately, this has reduced to about R400 million in recent months. And it is a major concern given the projects that are currently in the pipeline, particularly for Capex.
Another one bites the dust!
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