Today's Labour News

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saa thumb medium95 76Fin24 reports that the Democratic Alliance (DA) has urged the business rescue practitioners (BRPs) of SA Airways (SAA) to apply to court to liquidate the airline, saying the business rescue process has turned into a "farce".  

This came after the BRPs on Friday wrote to creditors to request a third extension to the deadline to publish their business rescue plan.  The BRPs argued that the impact of the coronavirus on the global airline industry warranted a new two-month extension.  On the same day, SAA announced the suspension of international and regional flights.  The DA on Sunday said it had written to the joint business rescue practitioners Siviwe Dongwana and Les Matuson to urge them to immediately apply to a court to liquidate SAA.  DA MP Alf Lees said:  "The complete lack of any urgency on the part of Matuson and Dongwana to get the business rescue plan approved is a clear indication that the entire business rescue process is a farce and has been so from the very beginning.  Given the collapse of ticket sales income as a result of the Covid-19 pandemic, on top of the dire financial position of the airline, it would be immoral for the SAA creditors to grant the SAA Business Rescue Practitioners yet another extension to submit their proposed SAA business rescue plan."  SAA was placed under business rescue in December.

  • Read the full original of the report in the above regard by Jan Cronje at Fin24
  • Read too, SAA business rescue practitioners request extension due to impact of coronavirus, at Independent News

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