Government receives SAA draft business rescue plan

JOHANNESBURG -The Public Enterprises Department has confirmed receiving a draft business rescue plan for South African Airways.

In a statement released on Monday, the department says government hasn't yet discussed the plan, nor have any decisions been taken regarding the proposals."The draft Plan has been prepared by the Business Rescue Practitioners and is meant to be discussed by various stakeholders including creditors, employees, and Government," the Department of Public Enterprises said.

"The government has embraced the restructuring process as part of a path to a new, dynamic and financially viable airline that will serve South Africa’s economic and strategic interests. We will review the Plan, explore various funding options, and communicate our decisions in due course."Earlier on Monday, Business Rescue Practitioners were given a fourth extension to submit their final plan for the embattled airline.

Dont allow ANC or Unions to influence. If ypu help SAA you should help ALL businesses in dire straights from corruption, ongoing looting by political appts of gov officials who for the record are still working in SOE,s. When will they be charged or Covid an excuse for no action?

Cut your losses. Go get the BILLIONS lost from corrupt officials if Gov. has any backbone they would do that. Pravin Gordon dont be influenced by paper. We know that this is a sinking ship. Enough money wasted 4 SAA. Build homes for poor. Put money where needed. No hope left.

Again? Does this not happen every year. Not news. Photocopies.

Saze savelelwa ilo SAA, asikaze sidle ngisho isenti kuwona.

Thanks for the update, but where is Batman in tonight’s news?

Pliz don't waste tax payer's money on SAA.instead go and arrest those who randown the company n bring back the money they stole.problem solved.

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Government has not yet discussed SAA rescue plan: public enterprises“Government has not discussed the plan yet and no decisions have been taken on some of the proposals it contains,” the department said in a statement. Government has not discussed the plan yet? i SUPPOSE THEY ARE WAITING TO RAID THE GOVERNMENT PENSION FUND. Business Rescue was quite a convoluted way for the SA Government to retrench a few employees
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Another bailout for SAA, of R21bn, is not final yet, says governmentThe department of public enterprises has dismissed reports that government is planning to approve the draft rescue plan to hand SAA another bailout. This happens government must expect a full blown tax revolt Wow didn't jamndas say he not giving any more bailouts for the carrier or he was just playing politics with Tin fish Minister while they know very well BRP are looting all those funds What on earth Loads of cash floating around at the moment!!! Still waiting for a looting / state capture arrest!!!!!!! Instilling faith in South Africa . . Confidence brings investments 😂😂😂😂
Source: TheCitizen_News - 🏆 6. / 75 Read more »

No decisions taken on SAA draft rescue plan, says DPEThere were reports earlier that government has agreed to fund a restructuring of the state-owned airline if a business rescue plan is adopted.
Source: ewnupdates - 🏆 30. / 53 Read more »

Government has not yet discussed SAA rescue plan: public enterprises“Government has not discussed the plan yet and no decisions have been taken on some of the proposals it contains,” the department said in a statement. Government has not discussed the plan yet? i SUPPOSE THEY ARE WAITING TO RAID THE GOVERNMENT PENSION FUND. Business Rescue was quite a convoluted way for the SA Government to retrench a few employees
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Another bailout for SAA, of R21bn, is not final yet, says governmentThe department of public enterprises has dismissed reports that government is planning to approve the draft rescue plan to hand SAA another bailout. This happens government must expect a full blown tax revolt Wow didn't jamndas say he not giving any more bailouts for the carrier or he was just playing politics with Tin fish Minister while they know very well BRP are looting all those funds What on earth Loads of cash floating around at the moment!!! Still waiting for a looting / state capture arrest!!!!!!! Instilling faith in South Africa . . Confidence brings investments 😂😂😂😂
Source: TheCitizen_News - 🏆 6. / 75 Read more »

No decisions taken on SAA draft rescue plan, says DPEThere were reports earlier that government has agreed to fund a restructuring of the state-owned airline if a business rescue plan is adopted.
Source: ewnupdates - 🏆 30. / 53 Read more »