Syphax Airlines (Sfax) is set to resume operations after it secured TND20 million (USD10.17 million) in recapitalization funding. CEO Hatem Chabchoub told local media outlets this past week that flights would recommence from September 17 onwards with service to Istanbul Atatürk as well as Umrah charters to Jeddah International in Saudi Arabia.
Airline founder Mohamed Frikha, who has already contributed TND27 million (USD13.87 million) from his own resources, said part of the funds will be used to settle outstanding staff salaries as well as reimburse travellers whose flights were cancelled back in July.
The carrier suspended operations in late July citing financial difficulties that had rendered it difficult to settle its debts. It subsequently parked its pair of A319-100s at Sfax.
Frikha has blamed his airline's woes on its perceived links with Tunisia's Ennahda Islamist movement as well as the Libyan crisis wherein a large proportion of its business emanated with Libyan businessmen.
