JOHANNESBURG -An uncontrolled exit of South African national carrier SAA from the air transport industry would result in slowed or even negative economic growth if no contingency measures could be implemented the Airlines Association of Southern Africa has said.
South African Airways announced on Friday that its board of directors had - after consultations with the shareholder the government - resolved to place the company into business rescue in an effort to find a solution to its financial challenges. The move should provide some security and clarity for South Africa’s air transport, trade, logistics, travel and tourism sectors, the AASA - whose members include all of the domestic airlines in the country and most airlines in the Southern African Development Communit region and the Indian Ocean islands - said in reaction to the news.
"While AASA may not comment on SAA’s business or its shareholder’s decision, it is important to consider them within the industry and broader socio-economic contexts within which the sector subsists," it said, noting that South Africa’s domestic air transport market was one of the most robustly competitive in Africa and benefited the entire economy by providing choice, affordable, safe and reliable connectivity to destinations and markets throughout the country, while reducing the...
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DA pleased SAA will be put into business rescue | IOL Business ReportPravin Gordhan said that the next best option for embattled the state-owned South African Airways is to be placed into business rescue. Of course they will be, it’s been their tune for over a decade akere Can it be that afriforum “convinced”Luthulihouse ? WHO is pleased?
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Business rescue will allow SAA to continue operating in orderly, safe manner - Gordhan | IOL Business ReportThe business rescue announced for cash-strapped national carrier SAA will allow it to continue operating in an orderly and safe manner. busrep
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Government to hand over control of SAA to restructuring specialist | IOL Business ReportThe government will cede control of South African Airways (SAA) to a restructuring specialist in a last-ditch attempt to save the business. Don't fly SAA!!!!! Let it die!
Source: IOL - 🏆 46. / 51 Read more »
Unions want a hand in choosing SAA business rescue practitionerThere should be more than one practitioner, and unions want to be involved to ensure transparency, they say. Thats not the way business rescue works dummy.....you not buying a taxi with your conrade MbalulaFikile Isn't ths process suppose to be done by the board members, through a resolution? Bcz now we hear all sorts of stuff, evn PG involved in the selection of the practitioners. What's happening nah? Unions must listen to SHAMILLA BATOHI Remove Political Power as a Hideout for the Corrupt This is the Sum Total of our Current Situation as a Country
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Government to place ailing SAA under business rescueThe move potentially draws a line under the crisis — if a rescuer can be found.
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