Airlines Business & Finance News

South African Airways insolvency cover reinstated

South African Airways announced that Travel Insurance Consultants (TIC) have reinstated the travel supplier insolvency cover on the airline.

This milestone represents a significant step forward for SAA, the global travel agency community and customers alike.

In practice, this means that both TIC and the Bryte Insurance Company are now offering these essential insurance services across the travel trade, and providing protection for customers choosing to fly with SAA.

TIC, a division of Santam Limited said that this development is based on their confidence that the decisions taken during the business rescue process are in the best interests of stabilizing SAA.

From February 14, TIC is providing travel insolvency cover on all policies sold on SAA tickets. Flight Centre, through all its wholly-owned brands, including; Flight Centre Travel Group, FCM Travel Solutions, Corporate Traveller, Flight Centre Business Travel, Cruiseabout, and Flight Centre Associates will start selling SAA from today.

“This is an important day for SAA. Customers can now purchase tickets with renewed confidence in the knowledge that they are protected on every step of their journey through either TIC or Bryte Insurance,” said Deon Fredericks, Acting CFO of South African Airways.