WHY SWAZI AIRWAYS JET DEAL FLOPPED

MATSAPHA – Swazi Airways may have decided to drop the idea of leasing a Boeing 737 from a South African company but the local entity still has a mountain to climb.

It needs to pay the company that leased the aircraft in the abandoned deal close to E6 million.
This is Global Hub, a company that acted as an agent for Star Air Cargo, who are owners of the jet.

The actual amount, the Times SUNDAY has established, is E5 954 260.
Swazi Airways is reported to have signed an acknowledgement of debt, to the tune of US$458 020.
This publication understands that Global Hub wants this amount paid to it, as soon as possible.

The aircraft in question is a Boeing 737-300 registered SZ-SPU.
It is 29 years old, having started flying in March 1988.

Investigations by the Times SUNDAY revealed that, before it was leased to Swazi Airways, the jet had been owned by or leased to various other airlines, under different registration numbers.
These include Air Europe, British World Airlines, Air Asia (a Malaysian airline firm), Velvet Sky (South Africa) and National Jet Italia.

For seven years, it was with Philippine Airlines. This was between 1992 and 1999.  Responding to the allegation that the aircraft leased by Swazi Airways was too old, Global Hub, who acted as agents, said the aircraft in question was registered ZS-SPU and aged 28 years.
Further investigations by this newspaper uncovered the fact that the aircraft was now operating in Zimbabwe, under Air Zimbabwe. It flies from Johannesburg to Harare.
It had been leased to Swazi Airways by Star Air Cargo, a South African registered company that has a Domestic and International Aircraft Operating Certificate (AOC).

Star Air Cargo specialises in the wet, dry or damp leasing on short to medium term leases to airlines in Africa.  Star Air has been trading since 1996.
Originally, it operated smaller aircraft, flying courier freight and small cargo for DHL Express (hence the Cargo name) and other companies contracted to fly for FedEx. After starting to operate passenger flights, Star Air decided to move out of the smaller aircraft and to begin operating the Boeing 737 and started with their first 737-200 aircraft in 2007.

Star Air has begun negotiating with aircraft leasing companies to lease in the newer generation 737-300 and 737-500 aircraft, which will begin to replace the 737-200s over a two-year period.
Star Air leases aircraft on short and medium terms leases to scheduled airlines in the sub-Saharan African Region.

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