The main concern for travel insurers is that SAAs’ risk outlook and potential bankruptcy is worsening. Image: Shutterstock
By law, trade unions are not required to have a seat at the table during the selection of a business rescue practitioner, according to business rescue experts, meaning their fight to ensure inclusion in the process of selecting South African Airways’ practitioner may be in vain. SAA spokesperson Tlali Tlali said: “The Companies and Intellectual Property Commission has processed the appointment of the business rescue practitioner, Les Matuson from Matuson Associates in South African Airways’ voluntary business rescue process.”Spokesperson for the department Sam Mkokeli said that although the department was not a part of the selection process, they were “fully behind the decision”.
Smuts said it would have been an honour if he was chosen to do the job but he would not have opted to do it alone.
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VijayShadean Greedy unions can't be part of anything positive
Thats so good ........
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Unions want a hand in choosing SAA business rescue practitionerThere should be more than one practitioner, and unions want to be involved to ensure transparency, they say. Thats not the way business rescue works dummy.....you not buying a taxi with your conrade MbalulaFikile Isn't ths process suppose to be done by the board members, through a resolution? Bcz now we hear all sorts of stuff, evn PG involved in the selection of the practitioners. What's happening nah? Unions must listen to SHAMILLA BATOHI Remove Political Power as a Hideout for the Corrupt This is the Sum Total of our Current Situation as a Country
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SAA board unanimously backs business rescueThe embattled state carrier says it wants to do this at the ‘earliest opportunity’
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Uncontrolled SAA exit would hurt economic growth, regional airlines association says | IOL Business ReportAn uncontrolled exit of SAA from the air transport industry would result in slowed or even negative economic growth if no contingency measures could be implemented, AASA has said. busrep
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Government to place ailing SAA under business rescueThe move potentially draws a line under the crisis — if a rescuer can be found.
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SAA is in business rescue: what it means, and what nextDistress is normally identified when a company is no longer profitable, when it's not a going concern anymore, when it has major problems. put it on olx, the owner has no use for it so Pres is in Ghana? to do investment there? while we need jobs & investment & sorting out at home? Africa Infrastructure development is costing us MONEY & LOST ECON OPPORTUNITY. AFRICA STRUGGLE TAX is destroying us. Nations outside Africa actually helped more in the struggle How will this effect FlyMangoSA
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