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SAA To Give Nationwide A Cash Injection
Tuesday, 26 February 2008

SAA resolved Nationwide's lawsuit against it with a confidential out of court settlement on February 14 after only two days of a court drama that was expected to run for weeks.

Neither airline would divulge the amount of the settlement, but it is believed to be worth millions of rands, as Nationwide was set to ask the court to award it damages of up to R270-million (TIR, October 2007).

The undisclosed settlement is no doubt a welcome relief for Nationwide, which has exhausted its financial reserves to keep the airline afloat after its grounding by the CAA last December.

Nationwide's lawsuit against SAA is the first civil case to follow a ruling by the Competition Tribunal and comes three years after the Tribunal fined SAA R45-million for abusing its dominance in the market. The Tribunal found SAA had unfairly influenced travel agents not to deal with its competitors (in this case Nationwide) by offering override incentives between 1999 and 2001.

By : TIR
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