Saa business rescue
SAA hoping to resume passenger services 'in coming weeks'
It has now been repurposed through new ownership between government and a private equity partner, which holds majority of the shares. Thomas Kgokolo said the...
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Outa probing possibility of reckless trading by boards of SAA subsidiaries
Outa has now written to Public Enterprises Minister Pravin Gordhan, among others, while submitting its objection to the Appropriations Committee this week.
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Outa seeks to halt bailout of SAA subsidiaries
The Organisation Undoing Tax Abuse (Outa) wants the diversion of R2.7 billion rand originally earmarked for the business rescue of SAA, which will now be used to purchase equity in its subsidiaries, to be stopped.
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Parly told that the bulk of SAA business rescue funding spent on consultants
SAA entered into business rescue in December of 2019 and finished the expensive process in April.
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Numsa, SAA Technical hold first consultative meeting as jobs hang in the balance
The union and staff at South African Airways (SAA) have been served with Section 189 notices informing them that they were considering possibly retrenching about 1,203 employees.
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SAA has received R7.8bn for implementation of business rescue plan, Scopa told
Rescue practitioner, Siviwe Dongwana, said that the restructuring was moving ahead smoothly.
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SAA lockout an abuse of power and an attempt to scapegoat pilots - Saapa
The South African Airways Pilots' Association (Saapa) is reviewing a Labour Court judgment that dismissed their bid to stop a lockout at the national carrier.
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Numsa slams 'disgraceful' Mboweni for his Twitter comments on SAA
Finance Minister Tito Mboweni on Sunday night asked his nearly one million followers on Twitter if the country needed a national airline.
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Mboweni: SAA funding the fulfillment of an obligation as SAA’s shareholder
SAA is not the only state-owned enterprise (SOE) that will get funds from the fiscus. Various SOEs will be funded to the tune of more than R20 billion over the next few years.
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Public Enterprises to continue to assess interest in restructuring SAA
The Public Enterprises Department said it received 20 expressions of interest from private sector funders, private equity investors and partners for a restructured SAA.
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Numsa, Sacca picket outside SAA offices after govt misses funding deadline
Workers demonstrated after government missed a deadline to make funding available for a restructuring plan.
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SAA administrators call creditors' meeting after govt misses funding deadline
The administrators took control of state-owned SAA in December after almost a decade of financial losses and published a rescue plan in June following repeated delays and wrangling over its future.
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Clarity on SAA restructuring expected soon
The Public Enterprises Department said that efforts to finalise the business rescue process and a decision on the sources of funding would be announced soon.
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Govt received more than 10 offers for SAA & subsidiaries – DPE
SAA said that it had received offers from investors, private sector funders and future partners who wanted to kick-start the restructured airline.
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SAA approves voluntary severance packages for over 3,000 employees
A total of 3,142 SAA employees have applied for the voluntary severance packages.
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Government in talks with private entities interested in SAA – report
It was unclear who the potential entities were who had shown interest in the troubled national airline.
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SAA’s restructuring plan already in operation, say BRPs
An outstanding guarantee of R16.4 billion owed to SAA creditors was confirmed by government on Monday.
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Govt has not committed to SAA funding requirements - Mboweni
In court papers, Finance Minister Tito Mboweni said that government was considering a number of options to 'mobilise' funding, including approaching institutions for the investment of pension funds.
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Govt commits in letter to obtain funding for SAA
The Departments of Public Enterprises and Finance outlined the pledge in a letter on Wednesday evening to SAA's business rescue administrators.
