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Business rescue team 'still looking at possible plan to avoid SAA liquidation'

19 February 2020 5:40 PM
Tags:
SCOPA
SAA
Business rescue
Business rescue practitioners
liquidation

SAA returned to Parliament on Wednesday to brief public finance watchdog Scopa on its state of affairs.

South African Airways (SAA) business rescue practitioners are still putting together a plan to turn around the airline to avoid its liquidation, which could lead to job losses.

SAA returned to Parliament to brief public finance watchdog Scopa on its state of affairs on Wednesday.

Scopa chair Mkhuleko Hlengwa says there are competing priorities in so far as the airline is concerned.

For the business rescue practitioners, of course, the timeline and time frame dictated that they have to be done by the 6th of March, so we will be then interacting with them and post that time once they have completed their plan.

Mkhuleko Hlengwa, Chairperson - Scopa

They are the transitional leadership now and so we are going to have to have interactions with them.

Mkhuleko Hlengwa, Chairperson - Scopa

So once they have completed their work and presented their plans and recommendations, they then have to come and speak to their plans to Parliament and answer questions.

Mkhuleko Hlengwa, Chairperson - Scopa

Click on the link below to hear more....


19 February 2020 5:40 PM
Tags:
SCOPA
SAA
Business rescue
Business rescue practitioners
liquidation

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