The competition to get SAA free will now begin, which the weakest state-controlled entity now has literally no value. The government’s inability to live up to its promise and make another R2 billion available to SAA as the largest rescue Read More …
SAA’s wings cut – bankrupt SOE can only pay salaries in January
The bankrupt, state-owned SAA airline company will manage to pay its staff salaries for January, but that’s where it all ends. With a bankrupt government failing to fulfill its pledge to pump another R2bn into the soe, it looks as Read More …
SAA’S business rescue position – Bankrupt SOE will be restructured,no further bailouts to be handed out – Are their wings finally cut?
Minister Pravin Gordhan’s stance at a board meeting of the bankrupt SA Airways has sent shock waves, the councilors as well as the shipping company’s worker are totally stunned by the so-called “business rescue position” that will be exercised without any Read More …