business rescue

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Background

Local

SAA business rescue plan might not be adequate, govt says

South Africa's government said it was concerned that a business rescue plan for troubled national carrier SAA published late on Tuesday might not be adequate. The government placed financially strapped South African Airways under business rescue last December, but efforts to revive its fortunes have so far stuttered partly due to the Covid-19 pandemic which has hamstrung air travel globally. In a statement released late on Tuesday as a "preliminary" […]

today17 June 2020

Local

SA’s NUMSA union ‘shocked’ at airline Comair’s business rescue

The National Union of Metalworkers of South Africa said it was shocked and dismayed after airline Comair announced on Tuesday that it was going into business rescue. Comair, which operates British Airways and low-cost airline kulula.com in South Africa, said it had no choice but to make the move after its implementation of a turnourand strategy was disrupted by a national lockdown to flatten the curve in the spread of […]

today6 May 2020

Local

Treasury urgently trying to secure SAA bailout: Mboweni

SAA cancelled some of its local and international flights, saying the decision was aimed at saving cash and optimising its position ahead of a further capital injection. Finance Minister Tito Mboweni says National Treasury is working around the clock to try and secure SAA’s R2 billion bailout as soon as possible. Speaking on the sidelines of the World Economic Forum in Davos Switzerland, Mboweni said it was important for the […]

today22 January 2020

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