can be rescued and that the business rescue practitioners appointed to save the airline should instead apply for liquidation.
On Tuesday, SAA received a lifeline from the Development Bank of Southern Africa which committed R3.5 billion in emergency funding to the national carrier. The bank will also give SAA an additional R2 billion in the form of a delayed draw term loan which stipulates that the borrower can withdraw pre-defined amounts of the money.Minister Ebrahim Patel regarding the details of the deal.
Lees says since December last year to date, SAA has lost R2 billion and is therefore running at a loss. “The airline is more than just financially dead. Its clients have abandoned it. There’s an obligation on the business rescue practitioners to be completely honest and open about this and accept that the airline cannot be rescued. They should be applying to court for a liquidation,” explains Lees.
Our_DA just say that you are illiterate and can't fix it. Does anyone really expect those matric leaders like Steeinhusen and Natasha to fix SAA?
Wait until ANC hear that
Good Morning, This is the email I've send to Minister tito_mboweni and I am still waiting for his reply. I thought I could also share it with you for his attention.
The Our_DA just wants their funders to buy SAA helenzille jsteenhuisen Natasha9Mazzone if SAA can't be rescued why are there private interests in it?
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: IOL - 🏆 46. / 51 Read more »