Rescue Plan Approved for Embattled South African Airline
The Department of Public Enterprises has urged pilots to accept South African Airways' voluntary severance packages. This comes as a majority of the embattled airliner's creditors voted in favour of the SAA business rescue plan and allow commercial banks to be paid the U.S.$113.6 million owed to them.
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South Africa:
Creditors Approve SAA's Business Rescue Plan As the Airline Gets a New Interim Boss
Daily Maverick, 14 July 2020
About 86% of creditors have voted in favour of the SAA business rescue plan, meaning that the airline will, for now, avoid liquidation. Meanwhile, Philip Saunders is the new SAA… Read more »
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South Africa:
DPE Urges Pilots to Accept SAA Severance Packages
SAnews.gov.za, 14 July 2020
The Department of Public Enterprises (DPE) has called on individual pilots to accept South African Airways Voluntary Severance Packages (VSPs) ahead of a crucial business rescue… Read more »
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South Africa:
SAA Rescue Plan Reveals Govt's Tunnel Vision
Daily Maverick, 13 July 2020
What is the point of throwing everything at SAA when the rest of the air transport system and entire industries upon which SAA depends are collapsing? Read more »
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South Africa:
Public Enterprises Dismayed At SAA Pilots Demands
Govt of SA, 13 July 2020
DPE dismayed at SAA pilots' insistence to further cripple the airline Read more »
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South Africa:
Public Enterprises Calls On Creditors, Unions and Other Stakeholders to Vote in Favour of a Business Rescue Plan for SAA
Govt of SA, 13 July 2020
The Department of Public Enterprises (DPE) calls on creditors, unions and other stakeholders to vote in favour of a business rescue plan for SAA tomorrow as this is the only… Read more »
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Africa:
African Airlines Take Off With Clipped Wings
DW, 7 July 2020
The COVID-19 pandemic brought everyday air traffic to a halt. But African airlines are preparing to take to the skies once more. Many airlines are facing a difficult path ahead to… Read more »
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InFocus
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"The board of SAA has adopted a resolution to place the company into business rescue. This decision is supported by government," Public Enterprises Minister Pravin Gordhan said in ... Read more »
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The Public Enterprises Ministry has said in a statement that it is working with South African Airways (SAA) to enable the embattled state-owned enterprise to carry on its business. ... Read more »
