Saa business rescue
Suspension of SAA operations to remain in force until funding found - BRPs
They said that all existing cargo and repatriation flights would be undertaken but no new ones would be accepted.
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SAA BRPs waiting on govt to communicate funding plan for airline's restructure
The Public Enterprises Department said that it was confident that the R10.4 billion needed for the restructured carrier would be made available to the practitioners very soon.
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Govt won't allow SAA to be liquidated - Public Enterprises DG Tlhakudi
Public Enterprises Director-General Kgathatso Thaludi said that government had committed to providing billions of rands to restructure SAA and now needed to establish a mechanism through which to channel the funds.
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Public Enterprises Dept says it’s close to finalising SAA’s rescue plan
The DPE said all conditions for the business plan were met and implemented, and it was now in the final stages to complete the process.
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SAA BRPs expected to hold creditors’ meeting on changing restructuring plan
They said all conditions for a rescue plan for the airline were met, apart from the letter required by lenders from the government.
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SAA pilots made unaffordable demands for severance packages - DPE
The Department of Public Enterprises (DPE) said that SAA pilots had been making unreasonable and unaffordable demands, with some wanting to secure severance packages of up to 60% more than what's being offered.
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5 unions agree to accept SAA’s voluntary severance packages – DPE
The Public Enterprises Department said that five unions, including the National Metalworkers Union of South Africa (Numsa) and the SA Cabin Crew Association (Sacca), had endorsed the plan. However, they have not yet been available for comment.
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DPE calls on unions at SAA to come up with solutions to save airline
This comes after a meeting on Friday where the department indicated its decision to withdraw from the leadership consultative forum established to find the best way to restructure SAA.
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Numsa, Sacca threaten legal action to stop liquidation of SAA
The unions say they are exploring their legal option to stop the liquidation of troubled the national airline and SA Express, following the Finance Minister's statement that there will be no more bailouts for SAA.
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4 unions ready to take SAA voluntary severance packages - govt
In a statement, government said that the National Transport Movement, South African Transport and Allied Workers Union, the Aviation Union of Southern Africa and Solidarity had stepped forward to take up the deal.
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SAA BRPs criticised for drawn out process as retrenchment judgment reserved
Judgment has been reserved in the appeal case between the South African Airways (SAA) business rescue practitioners (BRP) and three workers' unions.
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Liquidation the only option left for SAA, say some MPs
The Democratic Alliance (DA)’s Alf Lees said that the business rescue process should ideally have ended in December and the rescue team should have applied to court for liquidation back then.
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Cabinet optimistic that Mboweni's budget will get economy back on track
Cabinet described it as a roadmap to stabilise debt and was optimistic it would get the economy back on track.
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Vote on SAA’s business rescue plan postponed to July
The business rescue practitioners’, who took over SAA in December, published their restructuring plan last week and expected the vote to take place on 14 July.
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DPE offers 'final' voluntary severance package to SAA employees
The Department of Public Enterprises argued that a new restructured airline wouldn't be competitive if it had to continue carrying the salaries of the current SAA workforce.
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Court to hear SA Airlink's bid to halt BRP meeting on SAA's future
With potential private investment on the cards for SAA, the regional airline wants the financially cash-strapped national carrier to be placed under provisional liquidation.
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Govt wants new national airline to be competitive, with motivated workforce
The Department of Public Enterprises said it was in the process of considering proposals from potential funders and equity partners.
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Govt reveals proposals from private funders, investors interested in 'new' SAA
In a statement, the Department of Public Enterprises said it intended to pursue credible proposals for investment and strategic partnership with the private sector.
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DPE to oppose any court action aimed at interdicting SAA business rescue plan
The department said that its learnt of an application by SA Airlink aimed at stopping the national carrier's business rescue practitioners from convening the meeting to vote on the turnaround plan.
