South African Airways (SAA) is unlikely to require further financial assistance in the form of government handouts in the coming year.
State-owned low-cost carrier Mango Airlines will not take to the skies in December as the original business rescue plan needs to be amended.
Certain customers who have purchased kulula.com flight tickets will be able to use the unused ticket value for future travel.
Will we ever see the return of Mango flights to the skies? Or will we see another 700 jobs lost? Pilots say the airline is being left to die.
The court dismissed an application by a host of unions to place Mango under business rescue, with the airline doing so voluntarily.
South African Airways’ business rescue process has finally ended, with the rescue practitioners wrapping up their efforts and filing an implementation notice with authorities.
Beleaguered national airline South African Airways (SAA) has launched its revamped website, featuring flights to destinations across the globe – at sky-high prices.
In 2018, the former SAA CEO made a bet of R100 000 from his personal resources, saying SAA will be profitable by 2021.
Hanes South Africa, which holds the licence to manufacture, sell and distribute Playtex underwear in SA, has filed for voluntary liquidation.
Ster Kinerkor’s woes began in March 2020 when lockdown was first implemented.
While the national carrier remains mothballed, the airline’s headquarters appears to be receiving no care or maintenance.
With SAA operations suspended, BRPs continue to pursue funding opportunities. The DA believe they are stalling though.
Kuwaiti-based owners say prolonged lockdown and limited government support has eroded the five-star property’s revenue base.
Under the business rescue plan, at least 400 people will find themselves without work
According to the Department of Public Enterprises, all conditions for the implementation of the SAA Business Rescue Plan were met last week.
SAA BRPs notified all parties that conditions were fulfilled by the deadline. The business rescue plan is now unconditional.
The DPE has provided Business Rescue Practitioners (BRPs) with a commitment from government that they will fund the approved plan.
The creditors of SAA voted in support of the proposed plan, which would require government or a strategic equity partner to provide an additional R10 billion in funding.
SAA’s business rescue plan has been approved following a voting process involving the airline’s creditors, unions and the DPE.
Ahead of a vote on the SAA Business Rescue Plan (BRP), the Department of Public Enterprises and 600 pilots at the national carrier have reached an impasse
The Department of Public Enterprises has encouraged all stakeholders involved in the SAA business rescue saga to support the proposed plan.
SAAPA have accepted terms of the voluntary severance package offered by SAA business rescue practitioners, but had some extra demands.
The Department of Public Enterprises named four unions that opted for South African Airways (SAA) severance packages. Three have objected.
The Department of Public Enterprises (DPE) said the business rescue of SAA would provide a better outcome than the liquidation of the airline.
The DA have said that with Cabinet likely to dismiss BRPs plans to save SAA, they are left with little other option but to liquidate the failed airline.