Jetlink suspended as it waits for South Sudan funds

Kenyan airline, Jetlink Express has cancelled all flights and effectively ceased trading saying it has insufficient cash for operations to continue due to inaccessible South Sudanese funds.

It claims that a shortage of foreign exchange in South Sudan has meant it is owed more than $2 million from sales made to South Sudan passengers
“The board of directors of Jetlink Express regrets to announce the immediate suspension of all scheduled flights with effect from November 16, 2012,” a statement from the airline said. “Nearly all of our ticket sales in South Sudan are transacted in local South Sudanese pounds.”
According to sources in Kenya, the airline has been aware of the problems for much of the year. In the statement Jetlink said: “Despite the worsening scarcity of foreign currency in South Sudan since January 2012, Jetlink has persevered in servicing Nairobi-Juba route based on the support we have received from the Government of South Sudan and from our bankers here in Kenya.
“Unfortunately our Kenya bankers have recently advised us that they will no longer be able to grant us any further accommodation against our increasing deposited sales…. This has left us in a situation where we are unable to meet short term obligations as they fall due.”