Public Enterprises Minister Pravin Gordhan told a Parliamentary committee that government was in talks with rescue specialists on how best to save SAA.
in charge of SAA on how best to save the airline, which entered a form of bankruptcy protection in December."In our view, if this wind-down process the business practitioner team seem to be on at the moment continues as they proposed it will not serve the original objective that we set for the business rescue process," Gordhan said.
Gordhan said it is predicted that it will take 18 to 36 months for a recovery of the airline industry, but a less duration on domestic travel.Ensuring the necessary health precautions against COVID-19, such as social distancing, will result in a rise in flight costs and this is likely to hit the industry hard.
Gordhan says various trade unions have come to the party and have made"magnanimous" gestures on their part.in Johannesburg on Thursday challenging in a bid to stop the retrenchment of employees by the airline’s business rescue practitioners. Government does not want a fire sale of troubled national airline SAA assets nor for the carrier to be liquidated, Public Enterprises Minister Pravin Gordhan said. Gordhan told a Parliamentary committee that government was in talks with rescue specialists in charge of SAA on how best to save the airline, which entered a form of bankruptcy protection in December. Courtesy
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