SAA placed under business rescue

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This is part of the government's effort to restore confidence on the airline and to safeguard its goods.

Under the rescue process, existing lenders will provide the airline R2-billion as post-commencement finance, which will be repaid out of future budget appropriations.Public Enterprises Minister, Pravin Gordhan has said the money provided by government is not a bailout but rather financial assistance aimed at facilitating a radical restructuring of the airline.

The Minister alongside Finance Minister, Tito Mboweni are set to meet Trade Union, Solidarity at the South Gauteng High court as it finalises its business rescue application.

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Who are the Business Rescue Practitioners that will be appointed at SAA. I don’t know if SA Business Rescue Practitioners we have currently have the track record, qualifications & expertise to put a turn around strategy that will save SAA🙈

I also suggest to do the same with SABC and Denel. These are entities gobbling billions as well which we have far more efficient alternatives for.

About eight years to late.

☹️ Oh my my SAA whats happening? Whats happening with African Airlines...? With an exception of Ethiopia Airlines....they seem to know what they doing

Business people and SA politicians

What does it mean?

Finally

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SAA can't be saved, says Free Market FoundationThis follows the announcement that the airline will be undergoing 'radical restructuring aimed at ensuring operational and financial sustainability. Please tell NUMSA Yes it can not be saved because you want to auction it to your friends and relatives Even a white person with white hair cannot save it
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