Any attempt by the government to intervene in the efforts by independent business experts to rescue state-owned airline SAA from financial ruin by preventing their decision to stop flights on most domestic routes could derail the process.
SAA is in business rescue, a form of bankruptcy protection aimed at rehabilitating a financially distressed company. The airline has reported several years of operational losses and absorbed billions of rand in government bailouts.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
Government must back off they had their chance for 25 years and they failed with flying colors now leave it to the professionals.
Just bury the dead horse and stop playing with it's corpse...
Business Rescue Practioners are no God whose decisions cannot be challenged. The state is the sole shareholder and major creditor of SAA and can intervene if it so wishes. Stop this nonsense of treating the BRPs as paragons of business wisdom
They must learn to trust the business rescue team
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State prying into SAA plan may derail business rescueState must respect process it started despite looming retrenchments at national carrier It is the State's initial meddling & exerting undue influence on Cadre Deployed Ministers that are carefully chosen to head these entities,that brought upon this crisis. The Business Rescue Plan for flysaa must be able to work unprovoked free of hindrance from t meddling State
Source: BDliveSA - 🏆 12. / 63 Read more »