Pravin Gordhan and the business rescue practitioners are at an impasse, with no plan and no money
The rescue of SAA — even though it has not fully run its course — is already an expensive failure.
With R5.5bn spent running the business since December, there is no rescue plan on the table, employees — except for SAA’s top and senior management — are now going unpaid and millions in fees have flowed to the business rescue practitioners, lawyers, aviation consultants and accounting firms.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JSE lifts on promising Covid-19 vaccine newsUK jobs data is due later on Tuesday, while markets are watching the testimony of US Fed officials before Congress
Read more »
BREAKING NEWS: South Africa’s Covid-19 cases jump to 17 200, death toll now at 312South Africa’s Covid-19 cases jump to 17 200, death toll now at 312 with 7 960 recoveries. The Northern Cape has also reported their first death.
Read more »
GEMS medical aid scheme slams Covid-19 fake news that they won't cover people over 60The country’s second-largest medical scheme, the Government Employees Medical Scheme (GEMS), has dismissed as fake news a message circulating on social media claiming it will not cover members over 60 should they contract Covid-19.
Read more »
LETTER: Nothing left to rescue at SAAPublic enterprises minister is wrong to blame business rescue practitioners for being unfair to employees
Read more »
The complexity of adjusting to levels of tyrannyGive me 30 bad women, half a ton of gold bullion and a mothballed SAA Airbus and you’ll never hear from me again.
Read more »
PETER BRUCE: Does anyone have a plan for SAA?The history of executives and ministers keeping the national airline aloft is a record of nauseating follies
Read more »