Streaming issues? Report here
CapeTalk logo 2017 1500 x 1500 CapeTalk logo 2017 1500 x 1500
Best of CapeTalk
22:00 - 00:00
volume_up
volume_mute

Up Next: Early Breakfast with Africa Melane
See full line-up
Best of CapeTalk
22:00 - 00:00
Home
arrow_forward
Local

SAA business rescue plan approved, new airline to launch at cost of billions

14 July 2020 4:42 PM
Tags:
SAA
Business Rescue Plan

The South African Airways (SAA) business rescue plan (BRP) has been approved by 86% of the vote at Tuesday’s creditors' meeting.

After months of uncertainty, the South African Airways (SAA) business rescue plan (BRP) has been approved.

86% of creditors gave the rescue plan the thumbs up at a meeting on Tuesday.

At least it brings to an end this dreadful state of suspended animation the airline has been in.

Guy Leitch, Managing Editor - SA Flyer Magazine

The move paves the way for the Department of Public Enterprises (DPE) to launch a new airline with an interim board and CEO.

But it'll cost billions for the new airline to get off the ground says SA Flyer Magazine's Guy Letich.

Possibly 5 billion at the bottom end, that's at least to keep it going for the interim...but more like 14.3 billion

Guy Leitch, Managing Editor - SA Flyer Magazine

The total amount owing to the banks is in the order of R30 billion.

Guy Leitch, Managing Editor - SA Flyer Magazine

Listen as John Maytham speaks to SA Flyer Magazine's Guy Leitch about SAA's business rescue plan:


14 July 2020 4:42 PM
Tags:
SAA
Business Rescue Plan

More from Local

bmw-adpng

Will BMW need to pay up for 'appropriating' local muso's song for Gusheshe ad?

29 September 2020 8:42 PM

BMW's Heritage Month campaign features a Kwesta hit which samples another band's music. Advertising expert Andy Rice weighs in.

Share this:
Read More arrow_forward

construction-site-building-hard-hat-project-tender-refurbishment-building-123rf

Gauteng govt blew R1.2 billion on ICU field hospitals that still aren't complete

29 September 2020 6:16 PM

Maverick Citizen editor Mark Heywood says the Gauteng government has spent more than R1 billion on incomplete field hospitals while the Covid-19 surge has already passed.

Share this:
Read More arrow_forward

20200914undertakersjpg

Prof says one million global Covid-19 deaths still lower than previous pandemics

29 September 2020 4:38 PM

Professor Guy Richards says the global Covid-19 death toll is relatively small when compared to the total population and other global pandemics in the past.

Share this:
Read More arrow_forward

Gavel of judge in law court legal 123rflegal 123rf

Why accused child sex offenders should not be named

29 September 2020 3:06 PM

There is much criticsm that the ANC, DA and others named an alleged rapist of two young girls.

Share this:
Read More arrow_forward

blood-donation-needle-nurse-healthcare-check-up-test-123rf

WC donors urged to donate blood as stocks dwindle

29 September 2020 2:46 PM

The Western Cape Blood Service (WCBS) has appealed to each and every eligible donor to donate blood as the province faces declining blood stocks.

Share this:
Read More arrow_forward

Missing Image Placeholder

AfriForum claims WC farm attacks on the rise after family shot near Durbanville

29 September 2020 11:11 AM

AfriForum believes that farm attacks in the Western Cape are becoming more prevalent and violent after the latest incident over the weekend.

Share this:
Read More arrow_forward

Baboon Kataza walks past the memorial to slain Franziska Blochliger in Tokai

[READ] City of Cape Town releases statement on Kataza and baboons

29 September 2020 10:57 AM

The CoCT statement accuses residents of feeding and interfering with the baboon.

Share this:
Read More arrow_forward

Cape Town Cycle Tour

'Cyclists have the same rights as motorists on the road'

29 September 2020 7:25 AM

Pedal Power Association chair Steve Hayward says Cape Town law states motorists have to pass cyclists at a distance of 1.5 metres.

Share this:
Read More arrow_forward

kinnearjpg

Slain detective Charl Kinnear was probing corrupt cops in gun racket - reports

28 September 2020 6:52 PM

Murdered detective Charl Kinnear was allegedly investigating a gun syndicate involving high-ranking officers and gang bosses before he was killed.

Share this:
Read More arrow_forward

cape-town-cbd-parking-long-street-city-centre-shops-buildings-cars-123rf

CCID sees slight rise in CBD crime, but cases are still lower than in 2019

28 September 2020 5:44 PM

The CCID says there has been a slight increase in petty crimes in the CBD, particularly as taverns and bars are allowed to operate until midnight.

Share this:
Read More arrow_forward