SAA puts its Airbus aircrafts and engines for sale - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

SAA was placed under business rescue last month in an effort to save the company and 10 000 jobs.

South African Airways has put up nine of its Airbus aircraft and 15 spare engines for sale. That’s according to a tender document seeking proposals from interested buyers. The airline might be forced to suspend some if the government doesn’t come up with a plan soon to provide the R2 billion it promised the airline last month.last month in an effort to save the company and 10 000 jobs. Government promised the airline R2 billion and another R2 billion was to come from lenders.

Specialists appointed to turnaround the national carrier say government has not yet provided its portion of the funds and the R2 billion from lenders has been exhausted. Chantal Marx, from FNB Wealth and Investment, explains the sales, “With regards to the sale of the airplanes, that is part of the business rescue process whereby they are just trying to strengthen the balance sheet a little bit. The company is absolutely drowning in debt and selling aeroplanes and parts is probably a smart way to remove some of the debt from the balance sheet, to bring some cash into the business and put it in a healthier position,” explains Marx.

How much do those Boeing go for, wanna get one for my trips overseas...?

Wow how much per plane? Time to start own airline

For the wmc to splash..

No salaries....means couldn’t pay engineer to keep those engines in working order!!! Who gonna buy them engines now boi

That's Mr Jamnandas doing. .the man failed our SOEs.😒

What are they hoping to archive?

Lets just face the facts, we jave one of the most incompetent governments in the world? This guys tore apart all the SOE's in matter of 3 decades even Major ones.. Yesses this people

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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 »

SAA warns of flight cancellations and delayed salary payments - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.SAA might be forced to suspend some flights and delay salary payments if government doesn't come up with a plan soon to provide the R2 billion it promised the airline last month. Workers at SAA no longer have that pride of working at this failing national airliner as it was before. Jesus Take note TripAdvisor BBCAfrica news24 CNN SkyNews
Source: SABC News Online - 🏆 32. / 51 Read more »

DA wants SAA Business Rescue Practitioner to give update on bailouts - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.%DA MP Alf Les has called for SAA Business Rescue Practitioner Les Matuson to appear before Parliament to update it about the future bailouts required for the cash-strapped entity.% This country it's bizarre
Source: SABC News Online - 🏆 32. / 51 Read more »