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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...

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...

Ramaphosa: I see a good future for SAA, Eskom beyond Covid-19

by sundelbolong | May 31, 2020 | Business & Finance News

The Covid-19 crisis has provided an opportunity for government to reform its state-owned enterprises, so much so that President Cyril Ramaphosa is optimistic about the future of troubled entities SAA and Eskom. During an address to the South African National...

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...

Struggling SAA can be saved but more money is needed, say business rescue practitioners

by sundelbolong | May 28, 2020 | Business & Finance News

There is still a reasonable prospect of rescuing struggling flag carrier South African Airways if the money to do so is provided, the state-owned airline’s business rescue practitioners said in a letter to affected parties on Wednesday. In terms of the business...
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