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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.
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SAA business rescue plan approved, DPE to work on launching new airline
The approval of the plan comes after months of public spats between the department, unions and business rescue practitioners.
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Labour Court dismisses SAA’s BRPs bid to overturn ruling halting retrenchments
The National Union of Metalworkers of South Africa and South African Cabin Crew Association took the practitioners to court last month to halt the layoff of workers.
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Public Enterprises Dept pleased as Numsa, Sacca accept SAA deal
Numsa and Sacca have been vehemently opposed to layoffs at SAA, but after a meeting with the Public Enterprises Department, the unions believe it’s the best decision for members who prefer the voluntary severance packages.
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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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Treasury: 'No further action' to bailout SAA
The South African government wants creditors to back a restructuring plan for SAA but did not allocate new bailouts for the loss-making state airline in an emergency budget last week.
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Take SAA's severance packages or risk it with liquidation, dept to unions
The department said it had given everything it could to the voluntary severance packages and would not consider the union’s demands, which it called unreasonable.
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DPE favours business rescue plan over liquidation for SAA
In a statement on Thursday morning, the Department of Public Enterprises stresses that if SAA was to be liquidated, it would potentially lead to even more financial implications for employees.
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SAA BRPs tell court to lift interdict on retrenchments as plan not published
The practitioners said that due to a lack of cash flow for SAA and with no cash injection coming from government or potential investors, the whole rescue process would fail.
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DPE: Postponement of creditors meeting may scare away potential SAA investors
The department announced on Sunday that it was pulling out of the leadership consultative forum established to find a way to work with unions to try to save the embattled airline.
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Land Bank to get R3bn injection from tabled supplementary Budget
Finance Minister Tito Mboweni on Wednesday tabled a supplementary Budget as a response to the COVID-19 pandemic.
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Court dismisses SA Airlink bid to halt vote on SAA rescue plan
SA Airlink brought the matter to the court on an urgent basis ahead of the business rescue practitioners, creditors and others who were expected to meet on Thursday.
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WATCH LIVE: Patel and Gordhan answer questions in Parly
Minister of Trade and Industry Minister Ebrahim Patel and Minister of Public Enterprises Pravin Gordhan are answering questions Parliament on Tuesday.
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Hold the line on SAA & prioritise COVID-19 fight, DA to Mboweni
South Africa, now on level three, has one of the longest lockdowns in the world and the impact has been devastating with thousands of people losing their jobs as businesses crumble under financial pressure
