But Africa’s biggest airline isn’t interested in helping with SAA debt.
Shadow minister Geordin Hill-Lewis has claimed that the government used the billion-dollar IMF loan to help bailout SAA last month.
A former SAA official found herself nearly speechless after she failed to defend a suspicious payment made into her account, by a businessman who scored a tender at the national carrier
After an initial withdrawal of services, SAA Technical agreed that it would resume its operations for Mango airlines.
With SAA operations suspended, BRPs continue to pursue funding opportunities. The DA believe they are stalling though.
Workers at SAA Technical (SAAT) picketed on Monday regarding salaries. On Tuesday, a meeting is being held with management on a way forward.
There were reports that Mango would ground its flights on Saturday night 26 September. The airline has since set the record straight.
There’s more unrest in the ANC to report this weekend, after Tito Mboweni failed to prevent SAA from receiving another bailout bonanza.
SAA needs about R10.5 billion to restart operations.
The SAA business rescue process has been problematic, however, practitioners and trade unions are in disagreement about the way forward at the airline.
Sacca and Numsa intend approaching the courts, to prevent the liquidation of SAA
Under the business rescue plan, at least 400 people will find themselves without work
The Department of Public Enterprises said that there are a host of exciting offers on the table for investment in SAA’s replacement.
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.
Tito Mboweni has made an important vow to SAA ‘under oath’. However, talk of using funds from the pension pot to support the airline is raising eyebrows.
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
The DPE has provided Business Rescue Practitioners (BRPs) with a commitment from government that they will fund the approved plan.
The DA are furious with Tito Mboweni, and have issued him with a legal notice. The party believe he will sanction a multi-billion rand bailout for SAA.
R16 billion needed to unclip the wings of the ‘new’ SAA – how will Mboweni fund it?
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.
According to the DPE, the new interim SAA CEO Phillip Saunders, has a credible track record of leading airlines around the world.
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.