Ailing carrier SA Express, which became the second state-owned airline to be put into business rescue a week ago, says all its operations are continuing as normal.
The business rescue process is aimed at rehabilitating a financially distressed company by restructuring its affairs including debt, among other things. The SA Express contract with Ziegler was an agreement to provide a range of services, including cargo management, customs clearing services and inventory, and supply chain management.
Majatladi said that while the manner in which the introduction of the business rescue process occurred “is unfortunate, this now provides the environment to facilitate the conclusion of initiatives that had already been initiated by the board and executive team”.
Source: News Formal (newsformal.com)
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