Business rescue finalised: SAA cleared for take-off
South African Airways’ business rescue process has finally ended, with the rescue practitioners wrapping up their efforts and filing an implementation notice with authorities.
South African Airways (SAA), which was placed into business rescue in December 2019, is now back in the hands of its own management team since business rescue practitioners Leslie Matuson and Siviwe Dongwana terminated the airline’s drawn-out rescue process by filing SAA’s Notice of Substantial Implementation with the Companies and Intellectual Property Commission (CIPC) on Friday 30 April.
SAA UNDER OWN MANAGEMENT
This brings to an end the lengthy 17-month business rescue process for the national carrier. The airline is now in the hands of its own board, with interim CEO Thomas Kgokolo at the helm.
I m fed up – SAA, rescue practitioners blasted by parliamentary accounts committee
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The management of South African Airways (SAA) and the state-owned airline s business rescue practitioners were blasted by some members of Parliament for not being ready to report to the Standing Committee on Public Accounts (Scopa) on Tuesday about progress made to date.
Scopa chair Mkhuleko Hlengwa said SAA's rescue practitioners have to change their attitude about how they interact with Parliament after they bailed at the last minute owing to a "bereavement".