SAA was placed under business rescue last month in an effort to save the company and 10 000 related jobs.
Unions briefed by the specialists appointed to turnaround the national carrier were told on Wednesday that the government had not yet been able to provide its portion of the funds and that the R2 billion from lenders had been exhausted.
Zuma Miyeni legacy
Everything is going to the dogs! Shame on you ANC! This is horrifying and we knew 25 years back this would happen!!!
Well you cannot service all your routes if you have sold the planes!
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Jesus
Workers at SAA no longer have that pride of working at this failing national airliner as it was before.
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Liquidation of SAA not 'current scenario', say business rescue practitionersWhile the struggling state-owned airline has not yet received an additional R2bn in funds from Treasury, its business rescue practitioners say liquidation is not yet on the cards. Fin24 Airlines are struggling globally Fin24 South Africa cannot liquidate something that belongs to China. Maybe change the name to Chinese African Airways. Make the planes red with yellow stars. Put a dragon on the wing.
Source: News24 - 🏆 4. / 80 Read more »
Liquidation of SAA not 'current scenario', say business rescue practitionersWhile the struggling state-owned airline has not yet received an additional R2bn in funds from Treasury, its business rescue practitioners say liquidation is not yet on the cards. Fin24 Airlines are struggling globally Fin24 South Africa cannot liquidate something that belongs to China. Maybe change the name to Chinese African Airways. Make the planes red with yellow stars. Put a dragon on the wing.
Source: News24 - 🏆 4. / 80 Read more »