South Africa: SA Express Might Struggle to Pay Salaries After February As Funding Is Held Up

analysis

SA Express business rescue practitioners have been asking the Department of Public Enterprises for funds to pay salaries beyond February 2020 as the airline is bankrupt. Tito Mboweni allocated R200-million to the airline for 2020/21 in his Budget - money that is yet to be transferred into the airline's bank account.

SA Express, the struggling state-owned airline that is in the throes of business rescue, is in a dire financial position as efforts by the rescue practitioners to seek funding from the Department of Public Enterprises to pay employee salaries have stalled.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.