South African Airways in "Business Rescue" as from 05 Dec 2019

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TLspotting
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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

Post by TLspotting » 13 Feb 2020, 20:41

South African Airways may sell its two prized nighttime slots at London Heathrow as the state-owned carrier battles to stave off financial collapse.

South Africa’s Treasury’s says the government refused to provide guarantees to South African Airways due to the airline’s inability to finalize financial statements on an ongoing basis.
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

TLspotting
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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

Post by TLspotting » 14 Feb 2020, 20:24

SA Express enters into the Business Rescue process to ensure the long term sustainability of the airline. All operations to continue as normal.
I'm Thibault Lapers, spotter in Belgium for now 3 years, but not yet across the world and a huuuuuge aviation geek ! Join me on Facebook & Twitter @TLspotting

Passenger
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Re: South African Airways in "Business Rescue" as from 05 Dec 2019

Post by Passenger » 15 Feb 2020, 09:27

TLspotting wrote:
14 Feb 2020, 20:24
SA Express enters into the Business Rescue process to ensure the long term sustainability of the airline. All operations to continue as normal.
SAA went into Business Rescue by decision of their own Board.
SA Express was put into Business Rescue by decision of the Johannesburg High Court, on request by Ziegler (logistics) because of unpaid bills.

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