SAA business rescue plan might not be adequate, says government

JOHANNESBURG - The government said it was concerned that a business rescue plan for troubled national carrier SAA published late on Tuesday might not be adequate.

In a statement released late on Tuesday as a "preliminary" response to the business rescue plan, the department of public enterprises said the government would support a proposal which resulted in a viable, sustainable and competitive airline that provided integrated domestic, regional and international flight services.

According to online news outlet Moneyweb, the plan stipulates that in the initial phase of the restructuring, SAA would only service domestic routes as allowed under South Africa's current lockdown rules aimed at curbing transmissions of the coronavirus. In its statement, the public enterprises department said the business rescue practitioners had had substantial time and R5.5 billion to undertake the tasks expected of them.

busrep so what, it is only so rich politicians can sit on their A holes and fly for FREE, State Capture was the baby THE PARENTS ARRIVED x 10 = A N Covid 19 looters and that’s how PresidencyZA and goons are fighting to keep their knees on citizens neck, , all in the name of covid 19

busrep Another business rescue plan loading.....

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SAA business rescue plan wants R10bn from govtThe plan for restructuring the airline will still see government having to find an equity partner to cover the costs, or come up with the money itself. It's another scam! Taxi and aviation industry has the government by the balls SAA business rescue plan wants R10bn from SA Taxpayer. Fixed it
Source: TheCitizen_News - 🏆 6. / 75 Read more »

DA calls for immediate release of SAA’s business rescue planWell, someone had to hold Pravin accountable
Source: ewnupdates - 🏆 30. / 53 Read more »

SAA business rescue plan wants R10bn from govtThe plan for restructuring the airline will still see government having to find an equity partner to cover the costs, or come up with the money itself. It's another scam! Taxi and aviation industry has the government by the balls SAA business rescue plan wants R10bn from SA Taxpayer. Fixed it
Source: TheCitizen_News - 🏆 6. / 75 Read more »