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SAA will have a strategic equity partner by August, says public enterprises department

The airline’s outstanding government guaranteed debt is R6.4-million and the treasury says there are no new guarantees to mitigate future risks to the fiscus ....

South Africa , South African , Phumulo Massuale , Phatu Rasivhetshele , Melanchton Makobe , African Airways Technical , Deputy Minister Phumulo Massuale , South African Airways Technical ,

SAA subsidiaries one step closer to getting R2.7 billion lifeline

Parliament's Standing Committee on Appropriations has adopted a report on a Special Appropriation Bill which will make the transfer of R2.7 billion to SAA's subsidiaries possible. ....

South Africa , South African , Joachim Vermooten , Tito Mboweni , Organisation Undoing Tax Abuse , Mango Airlines , Public Enterprises Pravin Gordhan , National Assembly , African Airways , Parliament Standing Committee On Appropriations , African Airways Technical , Standing Committee , Special Appropriation Bill , South African Airways , Tuesday Parliament , Appropriation Bill , South African Airways Technical , Finance Tito Mboweni , Companies Act , South African Trade Unions , மாங்கனி விமான நிறுவனங்கள் , பொது நிறுவனங்கள் பிராவின் கோர்டன் , தேசிய சட்டசபை , நின்று குழு , செவ்வாய் பாராளுமன்றம் , நிறுவனங்கள் நாடகம் ,

MIL-OSI Africa: Public Enterprises welcomes SAA business rescue practitioners exit

Source: South Africa News Agency
The Department of Public Enterprises has welcomed the notice of substantial implementation filed by the Business Rescue Practitioners (BRP), which signals the exit of the BRPs at South African Airways (SAA) since the process started in December 2019.
“The business rescue process enabled the restructuring of SAA, reducing its cost base and its financial liabilities, creating a sustainable baseline going into the future. The BRPs are handing over to the SAA Interim Board a solvent business,” the department said in a statement.
However, the department warned that this does not mean the work is done.
It said the board and management will be developing and implementing an interim business plan to sustain operations, while a strategic equity partnership is being finalised. ....

South Africa , South African , Department Of Public Enterprises , Brps At South African Airways , Africa News Agency , African Airways Technical , South Africa News , Public Enterprises , Business Rescue Practitioners , South African Airways , Interim Board , South African Airways Technical , Labour Relations Act Section , துறை ஆஃப் பொது நிறுவனங்கள் , பொது நிறுவனங்கள் , வணிக மீட்பு ப்ர்யாக்டிஶநர்ஸ் , இடைக்கால பலகை , தொழிலாளர் உறவுகள் நாடகம் பிரிவு ,

Mango to keep flying for now, as govt 'assesses' future of SAA subsidiaries

Low-cost state-owned airline Mango will continue to operate, it announced late on Friday afternoon.
This followed shortly after the rescue practitioners of SAA announced they are exiting the process.
The Department of Public Enterprises is waiting for Parliamentary approval so that R2.7 billion can be allocated to SAA s subsidiaries, which include Mango.
Despite a lot of speculation and uncertainty during this past week, Mango Airlines confirmed late on Friday afternoon that for now, it will continue to operate as normal on Saturday 1 May 2021 and beyond - except for its Zanzibar route.
An update on the Zanzibar route is expected sometime next week. ....

South Africa , South African , William Ndlovu , Mango Airlines , Property Commission , Department Of Public Enterprises , Late On Wednesday Airports Company , African Airways , African Airways Technical , Public Enterprises , South African Airways , Intellectual Property Commission , South African Airways Technical , Labour Relations , Wednesday Airports Company , மாங்கனி விமான நிறுவனங்கள் , ப்ராபர்டீ தரகு , துறை ஆஃப் பொது நிறுவனங்கள் , பொது நிறுவனங்கள் , அறிவுசார் ப்ராபர்டீ தரகு , தொழிலாளர் உறவுகள் ,

JUST IN: SAA Technical starting retrenchment process that could cut more than half its staff

SAA Technical is set to enter a retrenchment process.
SAAT is a subsidiary of SAA, but unlike its parent company, it is not in business rescue.
The Department of Public Enterprises is hoping to get a special appropriation from Parliament to channel R2.7 billion of SAA s rescue money to its subsidiaries.
South African Airways Technical is set to begin a Section 189 retrenchment process in terms of the Labour Relations Act, Derek Mans, union Solidarity s union official for the aviation and defence sector, said on Wednesday afternoon.
SAAT currently has 2 019 employees, and this number is anticipated to be reduced by 1 203 employees. ....

South Africa , South African , Terrance Naidoo , Department Of Public Enterprises , African Airways Technical , Public Enterprises , Labour Relations Act , Derek Mans , டெரன்ஸ் னாய்தூ , துறை ஆஃப் பொது நிறுவனங்கள் , பொது நிறுவனங்கள் , தொழிலாளர் உறவுகள் நாடகம் , டெரெக் மனிதர்கள் ,