Solidarity asks court to put SAA in business rescue

Trade union Solidarity lodged court papers on Thursday requesting that SAA be placed in business rescue.The union said that it was acting on behalf of its members within the SAA group, but also on behalf of its members in public enterprises in all sectors in the SA economy and on behalf of every South African who pays tax.

“They cannot allow their tax money to be constantly misused to subsidise struggling, ineffective state enterprises.” Dirk Hermann, COO of union Solidarity, believes jobs would be saved if SAA underwent a business rescue. Picture: GALLO IMAGES/BEELD/ FELIX DLANGAMANDLA “A business rescue application is the only remaining option to limit the damage. Recent events at SAA accelerated the crisis. SAA’s day zero is imminent. The current shareholder has lost control over finding a solution for SAA,” he said.

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Solidarity brings business rescue application to SAA | IOL Business ReportSolidarity has revived its plans against the South African Airways (SAA) by announcing that it is bringing an application to place the cash-strapped airline into business rescue. busrep
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