Aviation across the world is experiencing turbulence. Airlines face thin margins, ageing infrastructure, regulatory complexity and pressure to modernise; passengers want greater regional connectivity. de Villiers Engelbrecht, the new CEO of Airlink, needs to navigate this airspace.
Appointed after years at Coronation Fund Managers — a shareholder in the airline — Engelbrecht helped stabilise and expand Airlink, while dealing with the challenges and opportunities in South African and regional aviation.
When he took over from Rodger Foster in April 2025, the industry was recovering from years of disruption. His appointment provoked whispers that he would wind down the airline. He refuses to comment on such rumours, some dating back 20 years.
“The business was, and remains, in great shape, and my succession was planned years in advance. I also was fortunate to be supported by arguably the best executive team in the industry,” he says.
A priority was to modernise Airlink’s fleet. He arrived in the middle of an 18-month study to enhance the fleet, which took most of his attention until the board approved the project in May 2025. Then he focused on route development, global distribution and improving customer service.
Engelbrecht’s background in financial services shaped his approach to running an airline. He joined Airlink’s board as a nonexecutive director in 2007 and became an executive in 2011 after Coronation converted its debt to equity in the airline. “My background was useful, given the complexity of aviation finance, but with hindsight, my strength lay in capital allocation and focusing on the balance sheet as a long-term tool to absorb risk and ride out volatility. Today we are practically debt-free and using that space to acquire more assets,” he says.
Covid tested the airline, but Engelbrecht highlights actions taken to protect staff and stabilise operations. “One of the first decisions we made was that no-one would lose their jobs.” Airlink’s headcount has doubled since 2019. “We sold aircraft, did sale-and-lease-backs and negotiated long-term agreements to maintain liquidity and readiness for market recovery.”
Carbon tax adds little to real sustainability … Our approach is to invest in more efficient technology
— de Villiers Engelbrecht
With “open skies” liberalising air travel, Airlink could also expand regionally and internationally. “We operate 67 routes to 48 destinations in 14 African countries and St Helena Island,” he says.
Rennie van Zyl, an aviation consultant and a former member of the UN’s International Civil Aviation Organisation, says passenger demand is expected to grow, “with good weather and relatively short distances between cities”. He says airlines like Airlink are positioned to continue expanding routes and services to meet that demand.
Nevertheless, aviation faces operational hurdles. Engelbrecht highlights decaying infrastructure and regulatory issues: “ATNS [Air Traffic & Navigation Services] has been an absolute and catastrophic disaster over the past 24 months,” he says. It failed to maintain instrument flight procedures, leading to safety concerns and financial losses.
“Airport infrastructure outside Cape Town and Durban is often in disrepair, and the Airports Company South Africa’s efforts to monopolise revenue streams for baggage, fuel and ground handling are worrying.” However, he praises the South African Civil Aviation Authority. “From a regulatory perspective, it is world-class.”
Except for Cape Town and King Shaka in Durban, South African airports are “not very inviting”, Engelbrecht says. “It is a shame that we invite international guests through OR Tambo International Airport.”
Global pressures are also affecting aviation. Airline margins averaged 3.7% in 2025, leaving little room for error. Engelbrecht emphasises disciplined capital management and a “lazy balance sheet” approach, focusing on sustainable long-term decisions rather than short-term profit maximisation.
Sustainability is another challenge. “Carbon tax adds little to real sustainability, and sustainable aviation fuel is far too expensive for an industry with these margins. Our approach is to invest in more efficient technology. The Embraer E195-E2 aircraft introduced in 2025 is 30% more fuel efficient per available seat than our previous fleet,” he says.
Engelbrecht predicts modest domestic growth but strong regional potential. “Inbound traffic from abroad is encouraging. Regional growth is even more promising, notwithstanding some regulatory barriers,” he says.
Van Zyl adds perspective: “Transport minister Barbara Creecy has positioned aviation as a strategic economic enabler capable of supporting trade, tourism, logistics, investment and employment.”
Abderahmane Berthé, secretary general of the African Airlines Association, a regional trade body representing airlines from UN countries, says the continent represents 18% of the global population but accounts for less than 3% of worldwide air traffic, reflecting regulatory and structural barriers rather than weak demand. “This indicates significant potential for regional airlines,” he says.
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