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Aviation experts explain why ‘bizarre’ SAA draft rescue plan cannot fly

by sundelbolong | Jun 5, 2020 | Business & Finance News

Of the several stories that have dominated South Africa’s daily discourse over the period of the lockdown, the fate of South African Airways has been an ever present feature. With airlines grounded for the majority, its already tenuous position has become more...

Comair creditors, employees glimpse proposed rescue plan

by sundelbolong | Jun 3, 2020 | Business & Finance News

The existing shareholder base of Comair is likely to see substantial dilution in its proposed restructuring plan, the airline’s business rescue practitioners said during a briefing on Tuesday. JSE-listed Comair operates low-cost airline Kulula.com, as well as...

SAA rescue plan calls for taxpayers to cough up further R4.6 billion

by sundelbolong | Jun 1, 2020 | Business & Finance News

A draft plan proposed by the business rescue practitioners of South African Airways calls for taxpayers to cough up about R4.6 billion more to save the debt-laden struggling national flag carrier. The draft proposal, which has been seen by Fin24, makes provision for a...

Daphne Mashile-Nkosi’s mining venture dodges business rescue, for now

by sundelbolong | May 29, 2020 | Business & Finance News

The Johannesburg High Court has stifled the Industrial Development Corporation of SA’s (IDC) attempt to place Kalagadi Manganese under business rescue for now. According to a statement by Kalagadi Manganese, the Court stuck IDC’s urgent application off the...

SAA business rescue practitioners ask for another extension

by sundelbolong | May 29, 2020 | Business & Finance News

SAA business rescue practitioners have asked for another extension to provide a plan on how they expect to save the ailing state-owned airline. The BRPs were supposed to present new turnaround plan for SAA to the department of enterprises on Friday, 29 May.   SAA went...
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