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Latest articles on Business Rescue

SAA in talks to recoup R350-million in blocked funds from Zimbabwe

Business -
The cash-strapped national carrier is in the process of recouping its blocked funds from Zimbabwe, which could go towards financing the airline’s business rescue plan
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Workers get their slice of SA Express

Business -
Proposals for how to carve up ownership of the airline could mean that the government will no longer hog the whole pie
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SAA creditors get R9.3bn from government

Business -
The state-owned airline owes R16.4-billion to lenders and needs an additional R10.1-billion to fund the business rescue plan
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SAA needs R2.2bn to pay for voluntary severance packages

Business -
More than 3 000 employees out of 5 000 have accepted the packages. The state-owned airline, which went into business rescue, is likely to retain 1 000 workers
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SAA creditors give go-ahead on rescue plan

Business -
Unions and staff representatives have agreed to severance packages for about 2 700 employees who will lose their jobs.
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SAA 2.0 hopes to start lean and grow from next year

Business -
Draft agreement document spells out that R1.5-billion will be needed to fund severance packages for 2 400 of the airline’s employees
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‘SAA 2.0’: New deal provides a lifeline

Business -
Airline brought back from the brink as rescue practitioners and Gordhan agree to work on a rescue plan by the end of June
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Lockdown hampers Edcon business rescue – analysts

Business -
Independent retail analyst Syd Vianello says going under business rescue does not mean Edcon will be saved, “it simply gives business rescue practitioners a chance to work out how they can save the company”
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SAA crash-lands but new airline will take off

Article -
During discussions between unions and business rescue practitioners and the government, it was decided that the national carrier would be closed and a new airline formed
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Gordhan steps into SAA crisis, announces a stop to retrenchments

Article -
The minister is also expected to announce talks with unions towards a new airline after the shut-down of the cash-strapped national carrier
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SAA Technical flies into salary storm

Article -
Maintenance division is first SAA subsidiary to declare hardship to staff as travel ban effects grow at the state-owned airline
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SAA rescuers give affected parties two options: Wind down or liquidate

Article -
As SAA subsidiaries declare hardship to staff, business-rescue practitioners urge them to sign agreements to save severance payouts
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SAA business-rescue practitioners offer severance settlement agreement for all staff

Article -
Practitioners inform staff that the government’s rejection of R10-billion bailout last week almost guarantees that the prospect of rescue is now impossible
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SAA staff placed on forced leave as airline cancels flights during lockdown

Article -
Employees at the embattled state-owned airline have been forced to take leave as SAA cancels all flights during South Africa’s lockdown
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SA Express business rescue practitioners to throw in the towel

Article -
With Covid-19 halting air travel, labour unions have been told that lack of post-commencement funding and travel bans have forced airline to the point of no return
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Zuma, Zondo play the waiting game

emma balfour
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