Government to oppose court application against SAA Business Rescue Plan
The application by SA Airlink also seeks to have SAA placed under provisional liquidation.
The Department is also aware of plans by the
The DPE has not been cited as a respondent in the SA Airlink application. However, as the Shareholder representative, the DPE will approach the court seeking to intervene with the intention to oppose the application by SA Airlink. The DPE will also oppose SA Airlink's application that SAA be placed under provisional liquidation. SA
As we approach the final week to either endorse or reject the business rescue plan by the BRPs, it is disturbing that a competitor of SAA, which is 100% privately owned, as well as two labour unions, who should be acting in the best interest of their members, are seeking to destroy SAA by forcing a liquidation through the courts. The question is why? Is this really in the interest of SAA workers or the fiscus?
The BRPs have scheduled a creditors meeting for
Government, as the sole shareholder of SAA, supports the business rescue plan where it results in a viable, sustainable, competitive airline that provides integrated domestic, regional and international flight services.
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