Following a creditors meeting held on Tuesday, 86% of South African Airway's creditors have voted in support of the revised business rescue plan.
The new plan will need financing of over R10 billion from the government to see it through. Most of the financial expenditure will go into paying retrenchment/severance package costs for employees and liabilities. Minister of Public Enterprises Pravin Gordhan and the ANC have shown their support behind the formation of a new airline which is envisioned to emerge from the rescue plan.
"Today’s decision by South African Airways creditors to vote in favour of the revised business rescue plan was a self-interested ‘grand financial heist’ to reap millions of rands in taxpayer’s money while saddling the fiscus with an expensive ‘dud’ disguised as a new airline.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
BREAKING NEWS: SAA creditors support business rescue planCreditors voted overwhelmingly in support of the plan, meaning the government has to find more than R10bn in funding
Herkunft: BDliveSA - 🏆 12. / 63 Weiterlesen »