'Our application to put SAA under business rescue is radical intervention'

Trade union Solidarity plans to go to court in an attempt to have South African Airways (SAA) placed under business rescue.

The union is calling on President Cyril Ramaphosa, and Ministers Pravin Gordhan and Nhlanhla Nene to support its application.

READ: Treasury believes mix ownership model is the answer for SAA

Speaking to Ray White on The Midday Report, Head of Solidarity's Research Institute's, Connie Mulder said the union was correct to be concerned about the fiscal position of SAA after their poor statements released last week.

Once again it posted R5.4 billion loss and they are prepping Parliament for a similar loss in the 2018 fiscal year. So we have gone and said that the Auditor-General has serious concerns about their going concerns and we share on that and it is quote obvious that it is not sustainable. If we are going to do more of the same, we are going to get more of the same.

Connie Mulder, Head of Solidarity's Research Institute

He says their application to put SAA under business rescue is a radical intervention aimed at turning SAA around and getting it profitable.

Listen below to hear the full interview:


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