SAA business rescue plan approved, new airline to launch at cost of billions
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 billionGuy 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:
It's time for some hard talk on a soft issue says dietician Rael Koping as he explains the link between ED and cardiovascular problems.Read More
Professor Keertan Dheda debunks myths spread about the procedure which is an appropriate treatment for only a small number of patients.Read More
Stage 2 load shedding continues on Monday while City-supplied customers will be on Stage 1.Read More
Schedules and load shedding status for your area.Read More
The 'red tide' phenomenon is currently stretching 60 km along the West Coast and is turning the water a different colour.Read More
Spokesperson Sikonathi Mantshantsha says machines break down without notice resulting in the latest bout of loadshedding.Read More
Refilwe Moloto takes a closer look at the rental revolution in which people are renting furniture, tech items and even clothes!Read More
Until the Covid-19 vaccine is available locally, stockists say people are clambering to get their hands on the 'sunshine drug'.Read More
Police officials in the small Eastern Cape town of Joubertina came under attack after seizing hundreds of litres of illegal brew.Read More
Nurses union Denosa says many nurses contracted for the Covid-19 response are being unfairly treated in terms of labour laws.Read More