Tag: business rescue
SAA creditors have agreed to the proposed business rescue plan to restructure the embattled airline, there has also been an appointment of an interim CEO and in the coming days a new board. Aviation Analyst, Desmond Latham joins CNBC Africa for more.
Administrators in charge of South Africa’s Edcon have proposed a sales process that may lead to job redundancies in “significant numbers”, after the retailer filed for a form of bankruptcy protection in April.
Administrators at state-owned South African Airways (SAA) will not sell assets for an interim period without involving the government, a memorandum signed by one of the administrators and the public enterprises ministry showed.
This week Comair become the latest victim of Covid-19 lock-down's with the airline filing for business rescue hot off the heels of South African retailer Edcon.
JSE-listed airline, Comair, has announced the group will enter business rescue to safeguard the interests of the company and its stakeholders after the COVID-19 crisis disrupted the implementation of a turnaround plan.
Joining CNBC Africa to discuss the mix of global and local market news is Viv Govender, a Senior Analyst at Rand Swiss.
Infrastructure development in Africa is said to be the key that will unlock economic growth.
National carrier South African Airways has officially been placed into business rescue as of today. The decision was taken on by the SAA board and supported by government. Joining CNBC Africa to give insight into SAA is Dirk Herman, Chief Operating Officer of Solidarity, Peter Attard Montalto, Head of Capital Markets Research at Intellidex and Martin Kingston an SAA board member.