Streaming issues? Report here
Kieno Kammies 2019 1500 BW Kieno Kammies 2019 1500 BW
Today with Kieno Kammies
09:00 - 12:00
volume_up
volume_mute

Up Next: The Midday Report with Lester Kiewit
See full line-up
Today with Kieno Kammies
09:00 - 12:00
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

table-mountain-lit-red-lightsared-campaign-twitterjpg

[PICS & VIDS] Mother City spotlights plight of live events industry #lightSARed

6 August 2020 11:12 AM

The industry has been hard hit by the Covid-19 pandemic lockdown and it does not look like the end is in sight anytime soon.

Share this:
Read More arrow_forward

190612packham

ConCourt dismisses Rob Packham's bid to appeal his murder conviction

6 August 2020 10:48 AM

The Constitutional Court has dismissed Rob Packham's application for leave to appeal his 22-year jail sentence for killing his wife.

Share this:
Read More arrow_forward

Covid-19-PPE-personal-protective-equipment-gloves-mask-glasses-healthcare-123rf

PPE corruption: Mboweni must issue Treasury instruction for open tenders, say DA

6 August 2020 9:00 AM

DA Finance Shadow Minister Geordin Hill-Lewis says both the DA and Cosatu warned govt as early as May that graft was inevitable.

Share this:
Read More arrow_forward

afrika-tikkunjpg

SA needs 'the Madiba compassion' more than ever now, says Afrika Tikkun CEO

5 August 2020 8:54 PM

Marc Lubner on the NGO's programmes for young South Africans and how working with Nelson Mandela inspired his life's work.

Share this:
Read More arrow_forward

car insurance short-term cover 123rfbusiness 123rflifestyle 123rf

Why it's a bad idea to ditch or downgrade your car insurance to save on costs

5 August 2020 8:21 PM

Involved in an accident you didn't cause? Third party claims don't pay out much. Wendy Knowler shares one driver's horror story.

Share this:
Read More arrow_forward

cigarette-smoker-lighting-up-lighter-smoking-tobacco-product-addiction-123rf

'Cigarettes supposedly exported to Namibia are being sold on SA's black market'

5 August 2020 6:15 PM

Former SARS lawyer Telita Snyckers has a theory about why Namibians are struggling to get hold of their preferred SA-made cigarette brands.

Share this:
Read More arrow_forward

sheep-squashed-together-herd-farm-animals-live-export-trade-livestock-123rf

NSPCA heads to High Court in latest battle against live sheep export

5 August 2020 4:55 PM

Animal welfare group National Council of SPCAs (NSPCA) wants to put an end to the live export of animals to the Middle East.

Share this:
Read More arrow_forward

African-bush-elephant-safari-drive-tourism-Kruger-National-Park-Sanparks-123rf

Overnight accommodation to gradually reopen from 14 August, says SANParks

5 August 2020 3:25 PM

SANParks says national parks will reopen for overnight stays from next week Friday onwards.

Share this:
Read More arrow_forward

Gavel of judge in law court legal 123rflegal 123rf

Court hears arguments in BAT SA's case against cigarette sale ban

5 August 2020 2:03 PM

The second major court challenge to the tobacco ban is currently underway in the Western Cape High Court.

Share this:
Read More arrow_forward

zoom-backdropjpg

CT businessman creates free-to-use Zoom backdrop in a bid to promote Mother City

5 August 2020 11:23 AM

Ditch the Golden Gate Bridge on Zoom! You can now spruce up your work-from-home backdrop while also putting Cape Town on the map.

Share this:
Read More arrow_forward