Denel s liquidity challenges has seen it struggle to pay creditors and staff their salaries.
The state arms manufacture risks running out of cash by March – further delays to the implementation of its turnaround plan would risk it being liquidated.
Another entity on the brink of collapse without a reconfiguration of its business is the Post Office, according to Treasury.
State arms manufacturer Denel risks running out of cash by the end of March, according to National Treasury.
Treasury officials on Tuesday appeared before the Standing Committee on Appropriations to brief members of Parliament on the third-quarter spending of the 2020/21 financial year, and state-owned enterprises (SOEs) were in the spotlight.
Edward Zuma was speaking outside the Nkandla homestead, where MKMVA members and a handful of community members marched in support of the former president.
SAA has received the outstanding funding for voluntary severance packages due from the Department of Public Enterprises, the rescue practitioners inform employees.
Trade union members retain their claim as creditors of SAA
By Edward West
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JOHANNESBURG - SAA TRADE union members who opted not to accept a business rescue salary agreement had retained their claim as creditors of SAA to be settled at the conclusion of the business rescue process, National Union of Metalworkers of South Africa (Numsa) spokesperson Phamile Hlubi-Majola said yesterday.
She was commenting following a Labour Court judgment this week that ruled against an application by Numsa and the SA Cabin Crew Association (Sacca) to have the non-payment of three months’ salary backpay, a 13th cheque and 5.9 percent salary increase backdated to April 2020 to employees who had not concluded the Outstanding Salary Settlement Agreement, declared unlawful and unfair.