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Labour unions caused the liquidation of SAA! We’re out - Minister Pravin Gordhan

29 June 2020 6:26 PM
Tags:
South African Airways
Democratic Alliance
Pravin Gordhan
SAA
DA
The Money Show
Bruce Whitfield
Business rescue
Unions
Alf Lees
Department of public enterprises
labour unions
SAA business rescue
Business Rescue Practioners
Business Rescue Plan
vote on SAA business rescue plan
saa liquidation
Ray Mahlaka

SAA must be liquidated, some MPs said on Monday. Bruce Whitfield interviewed independent business journalist Ray Mahlaka.

South African Airlines (SAA) must be liquidated, some Members of Parliament (MPs) said on Monday.

Image credit: Christopher Griner (https://www.flickr.com/photos/air_traveller/)

The business rescue process should have ended in December and the business rescue practitioners should’ve applied for liquidation back then, argued Alf Lees of the Democratic Alliance (DA).

"They should have then done what the law required of them to do," said Lees.

"So that step now remains."

The calls for liquidation come after creditors and unions adjourned talks, delaying a vote on the restructuring plan until July, and after the Department of Public Enterprises on Sunday withdrew from the Leadership Consultative Forum working on a business model for a new, rationalised SAA.

The business rescue process has been ruined by three labour unions who set the airline on the road to liquidation, said Public Enterprises Minister Pravin Gordhan.

The Money Show’s Bruce Whitfield interviewed independent business journalist Ray Mahlaka.

It is [dead in the water] … that forum has collapsed… because the Department yanked itself out of it… The relationship between the Department and the unions has broken down…

Ray Mahlaka, independent business journalist

The Department wants to launch a new airline at a time when the global industry has been decimated…

Ray Mahlaka, independent business journalist

It’s a case of having too many cooks in the kitchen…

Ray Mahlaka, independent business journalist

The Department has sided with the business rescue practitioners…

Ray Mahlaka, independent business journalist

Is SAA worth saving? … SAA will still be loss-making for the next five years, according to the projections in the rescue plan…

Ray Mahlaka, independent business journalist

Listen to the interview in the audio below.


This article first appeared on CapeTalk : Labour unions caused the liquidation of SAA! We’re out - Minister Pravin Gordhan




29 June 2020 6:26 PM
Tags:
South African Airways
Democratic Alliance
Pravin Gordhan
SAA
DA
The Money Show
Bruce Whitfield
Business rescue
Unions
Alf Lees
Department of public enterprises
labour unions
SAA business rescue
Business Rescue Practioners
Business Rescue Plan
vote on SAA business rescue plan
saa liquidation
Ray Mahlaka

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