Scopa gives SAA BRPs 25 days to finalise rescue plan

Five months since beginning the mammoth task, SAA’s BRPs are yet to table a final business rescue plan for the troubled airline.

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CAPE TOWN – The Standing Committee on Public Accounts (Scopa) has instructed the South African Airways (SAA) business rescue practitioners to set a date for the finalisation of the business rescue plan for the struggling airline.

The business rescue practitioners have been given 25 days to produces a business rescue plan for the airline.

The rescue team and Public Enterprises Minister Pravin Gordhan briefed Parliament’s Scopa and public enterprises committees on Friday night.

Five months have passed, and the business rescue practitioners have not tabled a finalised plan.

Scopa was, however, during its meeting furnished, with a draft business rescue plan.
But members of Parliament (MPs) took swipes at the rescue practitioners saying are not liquidators of SAA and should focus on saving the airline.

African National Congress MP Bernice Swarts said, “They never had an intention of rescuing SAA at all. Because today when they give us their finances, they are not telling us how much they are paying themselves or how much they are paying the consultants.”

Minister Pravin Gordhan said he was not happy with the endless extensions calling for finality and value for money.

“We are not happy with these constant extensions, and as a result, there is no business rescue plan as a consequence of five months of work and the amount of money and fees that have been earned.”

WATCH: Gordhan briefs Scopa on SAA, SA Express developments