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
With the disease hitting the airline industry hard, SAA has told employees it will run out of money by March 31. Workers must either lose their jobs or move to part-time jobs, it says
The business rescue practitioners say 29 of the fleet of 48 planes, various routes and inefficient services also need to go in the state-owned airline is to survive
As with the ban on SAA flying to the United States in 1986, political pragmatism will eventually be trumped by economic realities
The airline’s business rescue practitioners ignored a warning not to announce route closures and possible job cuts ahead of a restructuring plan
Ramaphosa and his role model Nelson Mandela became presidents of South Africa in very trying times
The airline’s employees in Durban have been told to join the unemployment queue on March 1 because the city’s route will be closed at the end of February
The government has committed an additional R2-billion to the airline, but has yet to pay it out
Taking tough decisions was always a political risk. But now it may be too late for business rescue
Numsa’s urgent application is against VR Laser Services, the two business rescue practitioners and other respondents
The banks are fighting shy of the politically hot companies, putting business rescue in jeopardy
Standard Bank has agreed to provide banking facilities to eight embattled Gupta-linked entities
Trade union wins high court case and hopes to save jobs for 165 of its members who faced the axe.
Business rescue, South Africa’s equivalent to chapter 11 bankruptcy in the United States, is generally working well.