Business rescue practitioner Les Matuson has begun a race against time to restructure SAA before the cash runs out for it to continue operating.
Because SAA is unable to generate enough revenue to pay for operations, the R4bn in precommencement funding from the Treasury and the banks will have to fund the gap until the airline breaks even. Even with the tools of business rescue at his disposal, this is a tall order.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NEWS ANALYSIS: Business rescue practitioner faces tight turnaround time to save SAAThe R4bn in precommencement funding from the Treasury and the banks will have to fund the gap until the airline breaks even 🔒
Source: BDliveSA - 🏆 12. / 63 Read more »
DA requests for Parly involvement in SAA business rescue plan talks - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.DA requests for Parly involvement in SAA business rescue plan talks The DA says it has made a request for Parliament to be part of a meeting to discuss South African Airways’ (SAA) business rescue plan. The politicians must get the fuck out of the way now.
Source: SABC News Online - 🏆 32. / 51 Read more »
Load shedding, SAA top ANC's NEC agenda - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The African National Congress's highest decision making body in between conferences, the National Executive Committee, is currently meeting at the Lakes Hotel and Conference Centre in Benoni as the country endures continued load shedding. Okay next They are right for this catch phrase 'load shedding,SAA top ANC's agenda' to sell news and make arguments. They are going to write it on paper and it ends THERE in paper. Mximmmmmmm
Source: SABC News Online - 🏆 32. / 51 Read more »
Load shedding continues on Saturday - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Eskom says it has made some progress in reducing unplanned breakdowns but stage 2 load shedding will continue until 11pm Saturday. I curse the day anc took over power in South Africa, 1994 promised to be the beginning of greater things to come, but boy, the whole thing has blown up in our faces and turned out to be a real NIGHTMARE, God, what did we let ourselves into!!!👃🙏
Source: SABC News Online - 🏆 32. / 51 Read more »
Anele Hoyana’s funeral under way - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Forty-year-old Anele Hoyana is being buried in East London on Saturday.
Source: SABC News Online - 🏆 32. / 51 Read more »