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”.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Operations of ailing SA Express ‘continue as normal’Despite contesting being put into business rescue, the airline says the process is well co-ordinated with no disruptions to customers and employees
Source: BDliveSA - 🏆 12. / 63 Read more »
SA Express heads to court to start corruption rot clean-upWhile business rescue practitioners mull the future of ailing state-owned airline SA Express, the carrier is forging ahead with a Supreme Court of Appeal bid to have a “dubious” R5m contract declared invalid.
Source: TimesLIVE - 🏆 28. / 59 Read more »
Source: City_Press - 🏆 7. / 72 Read more »
Source: IOL - 🏆 46. / 51 Read more »
Source: IOL - 🏆 46. / 51 Read more »
Investec Property Fund pushing for offshore assets a sign of hard SA timesSA commercial property is under pressure, with tenants wanting less space and more wriggle room
Source: BDliveSA - 🏆 12. / 63 Read more »