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Engineering News reports that the majority of SA Airways’ (SAA’s) creditors voted on Monday to postpone the publication of the business rescue plan for the state-owned airline until 15 June.
This was the fifth extension of the publication date. The vote was requested by the SAA business rescue practitioners (BRPs), who called the vote in response to a request from the trade unions representing the majority of SAA’s personnel, namely the National Union of Metalworkers of SA, the SA Cabin Crew Association and the SAA Pilots Association. The law firm representing the three unions had written to the BRPs objecting to the publication of the business rescue plan on 8 June, namely before any consultation in the Leadership Compact Forum (LCF) established by the Department of Public Enterprises would have taken place. The BRPs said they would do everything possible to limit the negative impact of the extension of the publication date and gave the assurance that the extension would not stop them “from taking the necessary steps to progress SAA’s business rescue” and that they would “continue taking proactive steps in light of the current crisis to conserve cash in SAA and to protect the interests of SAA.”
- Read the full original of the report in the above regard at Engineering News
Read too, Pros and cons of either privatising SAA or keeping it state-owned, on page 6 of The Citizen of 9 June 2020
Get other news reports at the SA Labour News home page