Airline brought back from the brink as rescue practitioners and Gordhan agree to work on a rescue plan by the end of June
Jobs saved; retaining only 25 Airbus aircraft that will operate select domestic, regional and international routes; and a renewed interest from buyers in the United States. These factors are part of a new plan to keep state airline SAA from the anticipated crash-landing after its business-rescue practitioners [BRPs] relented and agreed to work with the government to save the entity.
But this week the rescue practitioners and the government’s shareholder representative, the department of public enterprises , reached an agreement that effectively puts the practitioners’ intended liquidation application on hold — at least until the end of June. l An assets workstream, which will conduct an audit of assets and decide which of them will be required for either a new or old airline; and
The practitioners faced more pressure when the labour court issued an order interdicting them from proceeding with the retrenchment of 2200 employees, a case that has been ongoing at the Council for Conciliation, Mediation and Arbitration.
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.
Truce reached over SAA rescue plansPublic enterprises given until June 30 to come up with alternative plan after rejecting previous suggestions that involved eliminating jobs and winding down the airline
Read more »
SAA unveils losses ranging in the billionsSAA’s financial statements, which will be presented to parliament on Friday afternoon — more than two years late, reveal substantial losses of R5.5bn in 2018 and R5.1bn in 2019.
Read more »
This is where SA's 724 new Covid-19 infections, 219 deaths came fromThe total Covid-19 infections in the Western Cape now stands at 6713, with 117 deaths.
Read more »
New policies clarify who must pay for Covid-19 testsPeople covered by medical schemes no longer have to pay for negative Covid-19 tests done in the private sector, as long as they are referred by a doctor or nurse
Read more »
New moms struggle to register babies at Home AffairsNew mothers in Johannesburg have expressed frustration at being unable to get their babies registered, due to either long queues or closed Home Affairs offices.
Read more »
The new 2020 Mercedes-AMG A45 S is the first R1m hot-hatchWith 310kW this ballistic Benz is also the most powerful performance hatchback money can buy
Read more »