South african airways
Final call for SAA rescue as budget looms
State-owned South African Airways has limped along for a decade thanks to regular government bailouts.
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Govt ’not sure’ how to raise R10.5bn for SAA bailout
SAA is in desperate need of the multibillion-rand bailout, but the airline’s sole shareholder is still undecided on how to go about raising this money.
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SAA business rescue practitioners suspend airline operations
Administrators are putting the state-owned carrier under "care and maintenance" until funding for a restructuring plan is found.
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DA calls for special public hearings on SAA bailout
South African Airways needs more than R10 billion for the restructuring of the embattled airline.
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DPE: SA will soon know how the R10 bn needed to revive SAA will be availed
Finance Minister Tito Mboweni will table an adjustment budget next month where he’s expected to announce where government will get about R10 billion, which will be used to get South African Airways off the ground.
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Numsa, SACCA give DPE another week to find money for SAA restructuring plan
Workers have been picketing outside the SAA park offices.
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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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Numsa, SACCA to picket outside SAA offices on Friday over funding of new airline
In a statement on Thursday evening, the unions said it was a disgrace that the business rescue process is still ongoing, adding that this places the cash strapped carrier in danger of liquidation.
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SAA administrators call for creditor meeting on Friday following funding snag
The creditor meeting will be convened to discuss the funding issue and the proposed future of the cash strapped state-owned entity.
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Numsa, SACCA urge members at SAA not to sign any voluntary severance packages
The airline is waiting for funding from government to pay out the approved packages.
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Restructured SAA attracting more investors and funders, says DPE
The department said over the last few weeks, more than 10 entities have shown interest in the national carrier along with Air Chefs, SAA Technical and Mango Airlines.
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DA urges banks, creditors to reject SAA’s appeal for R5.3 billion loan
The official opposition has issued a statement on Thursday morning urging banks and creditors to reject an appeal for another R5.3 billion loan.
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Business rescue practitioners ready to hand SAA over, but no word on R10.3bn
The business rescue practitioners said the only process that’s left now was to finalise all the paperwork before it could be transferred to the new management of SAA.
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SAA business rescue practitioners hope for clarity on govt’s backing
The practitioners called a creditor meeting on Friday to consider amending the SAA restructuring plan to give the government more time.
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‘Govt considering independent SAA board, like Telkom’
The ailing airline has been in a form of bankruptcy protection since December.
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PwC auditor grilled over SAA’s audit reports at Zondo inquiry
Pule Mothibe signed off SAA’s audit reports that did not show irregularities at the airline, even though internal auditors and the media were already reporting on this.
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DA seeks urgent court interdict to stop SAA bailout
The DA is arguing that another public bailout of SAA did not meet the definition of an unforeseen emergency, making relief unlawful.
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Pilots’ association welcomes govt’s commitment to obtain funding for SAA
Government outlined the pledge in a letter signed by Public Enterprises Minister Pravin Gordhan and Finance Minister Tito Mboweni on Wednesday.
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SAA Pilots Association: New airline will only work under competent leadership
The union said the approval of the business rescue plan for SAA was only the first step.
