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BUSINESS MAVERICK: Buyers table offer for SA Express to revive its airline operations

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The team of SA Express provisional liquidators – led by Aviwe Ndyamara – has received offers from private-sector investors to buy the entire operations of SA Express. But most investors want to participate in the airline’s asset-stripping process.

At least 17 private-sector investors have approached the provisional liquidators of SA Express to either purchase its aviation assets or entire operations by taking over the government’s shares in the state-owned airline.

Ndyamara is racing against time to sell SA Express assets to pay creditors owed more than R2.5-billion or find a buyer that would take over the airline’s debt and the government’s shareholding. Ndyamara will return to the high court on 6 September 2020 to convince it to not convert the provisional liquidation of SA Express into a final one, which would involve its death after 26 years in the skies.

Ndyamara and Liquidity Services did not respond to written questions about the bidding process at the time of publishing despite being given seven days to do so.

 

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