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As Ramaphosa says SAA deal could still unravel, DPE claims process was 'rigorous'

As Ramaphosa says SAA deal could still unravel, DPE claims process was 'rigorous'
news24.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news24.com Daily Mail and Mail on Sunday newspapers.

Pravin Gordhan , Bantu Holomisa , Cyril Ramaphosa , Public Investment Corporation , Public Enterprises , President Cyril Ramaphosa , Business Rescue Practitioners , Public Enterprises Minister Pravin Gordhan , Harith General Partners , Global Aviation , பிராவின் கோர்டன் , பொது முதலீடு நிறுவனம் , பொது நிறுவனங்கள் , வணிக மீட்பு ப்ர்யாக்டிஶநர்ஸ் , பொது நிறுவனங்கள் அமைச்சர் பிராவின் கோர்டன் , உலகளாவிய விமான போக்குவரத்து ,

MIL-OSI Africa: Public Enterprises welcomes SAA business rescue practitioners exit

Source: South Africa News Agency
The Department of Public Enterprises has welcomed the notice of substantial implementation filed by the Business Rescue Practitioners (BRP), which signals the exit of the BRPs at South African Airways (SAA) since the process started in December 2019.
“The business rescue process enabled the restructuring of SAA, reducing its cost base and its financial liabilities, creating a sustainable baseline going into the future. The BRPs are handing over to the SAA Interim Board a solvent business,” the department said in a statement.
However, the department warned that this does not mean the work is done.
It said the board and management will be developing and implementing an interim business plan to sustain operations, while a strategic equity partnership is being finalised. ....

South Africa , South African , Department Of Public Enterprises , Brps At South African Airways , Africa News Agency , African Airways Technical , South Africa News , Public Enterprises , Business Rescue Practitioners , South African Airways , Interim Board , South African Airways Technical , Labour Relations Act Section , துறை ஆஃப் பொது நிறுவனங்கள் , பொது நிறுவனங்கள் , வணிக மீட்பு ப்ர்யாக்டிஶநர்ஸ் , இடைக்கால பலகை , தொழிலாளர் உறவுகள் நாடகம் பிரிவு ,

Lily Mine former workers: 'We have no reason to celebrate Workers' Day

Ex-Lily Mine workers say Workers' Day has no significance. After 5 years they are still waiting for the bodies of their trapped colleagues. ....

Kwazulu Natal , South Africa , South African , South Africans , Thabo Mokoena , Yvonne Mnisi , Harry Mazibuko , Herman Mashaba Action , Department Of Mineral Resources , Mpumalanga High Court , International Workers Day , Parliament Portfolio Committee , Lily Mine , Mineral Resources , Business Rescue Practitioners , Pretty Nkambule , Solomon Nyirenda , Portfolio Committee , Herman Mashaba , Vantage Goldfields , க்வஸூல்யூ நேட்டல் , துறை ஆஃப் தாது வளங்கள் , சர்வதேச தொழிலாளர்கள் நாள் , பாராளுமன்றம் போர்ட்‌ஃபோலீயோ குழு , லில்லி என்னுடையது , தாது வளங்கள் ,

SAA business rescue comes to an end

The balance of the debt owed will be paid over the next three years
#SAA s business rescue has come to an end. The national carrier has been under business rescue for 17 months. It has now been handed back to the executives and the board. Business Rescue Practitioners say R7.8 billion rand has been received from government. Courtesy #DStv403pic.twitter.com/NKe8Q4tcC1
eNCA (@eNCA) April 30, 2021
After 17 months the airline is handed back to the board. The business rescue plan was voted for and approved by creditors on 24 July 2020 with a R10.3 bn funding required for its implementation. To date R7.8 bn has been received from government for the implementation of the Plan. ....

South Africa , South African , African Airways , South African Airway , Business Rescue Practitioners , வணிக மீட்பு ப்ர்யாக்டிஶநர்ஸ் ,

When will SAA resume flights? New CEO says pilots 'now need retraining'

Clearly, flying a plane is nothing like riding a bicycle – and muscle memory alone cannot be relied upon if you’re a pilot for South African Airways. The company’s new interim CEO, Thomas Kgokolo, has confirmed that all SAA cockpit staff and cabin crew will have to undergo a ‘retraining programme’ before they operate another flight.
Pilots to be ‘retrained’ after months out of action
The ailing airline has been lying dormant for over a year, after 4 000 jobs were slashed from the national carrier. Billions upon billions have been chucked at the state-owned enterprise, and this ‘new era’ for SAA begins under a cloud of cynicism. They’ve been bailed out by public funds on several occasions – another failure could kill the business for good. ....

South Africa , South African , Thomas Kgokolo , African Airways , Business Rescue Practitioners , வணிக மீட்பு ப்ர்யாக்டிஶநர்ஸ் ,