• Latest

Public Enterprises warns it will oppose SA Airlink bid seeking to halt creditors meeting

June 22, 2020
Angolan citizens in South Africa, granted Exemption Permit status

R44 billion allocated for COVID-19 SRD grant: Lindiwe Zulu

May 17, 2022
Eskom is ‘kaput’. It’s game over – energy experts

Residents advised to brace for full week of loads shedding

May 16, 2022
North Korea conducts fifth and largest nuclear test

Kim Jong Un slams North Korea pandemic response, deploys army

May 16, 2022
DFFE calls to nominate members of air quality panel

DFFE calls to nominate members of air quality panel

May 16, 2022
Knorr Cup-a-Soup Lite beef, vegetable products recalled

Knorr Cup-a-Soup Lite beef, vegetable products recalled

May 16, 2022
Gospel singer Deborah Fraser passes away

Gospel singer Deborah Fraser passes away

May 16, 2022
Basic Education to work with the Hawks in investigating Physics Paper 2 leak

Second Chance Matric Programme exams starts May/June

May 9, 2022
Scuffle broke out in Limpopo High Court, two prisoners shot dead in alleged escape attempt

Police investigating multiple murders in Khayelitsha

May 9, 2022
Minister Mbalula calls for the ban of scrap metal exports

Minister Mbalula calls for the ban of scrap metal exports

May 9, 2022
Gauteng online admission for Grade 1 and 8 opens on July 22

Gauteng online admission for Grade 1 and 8 opens on July 22

May 9, 2022
Phillip Dukashe resigns from Eskom Generation

Phillip Dukashe resigns from Eskom Generation

May 9, 2022
Document certification, no longer a requirement – DPSA

Document certification, no longer a requirement – DPSA

May 6, 2022
  • About Us
  • Advertising
  • Contact
Sunday, May 22, 2022
Townpress Newspaper
No Result
View All Result
  • Login
  • News
    Angolan citizens in South Africa, granted Exemption Permit status

    R44 billion allocated for COVID-19 SRD grant: Lindiwe Zulu

    Eskom is ‘kaput’. It’s game over – energy experts

    Residents advised to brace for full week of loads shedding

    Knorr Cup-a-Soup Lite beef, vegetable products recalled

    Knorr Cup-a-Soup Lite beef, vegetable products recalled

    Gospel singer Deborah Fraser passes away

    Gospel singer Deborah Fraser passes away

    Basic Education to work with the Hawks in investigating Physics Paper 2 leak

    Second Chance Matric Programme exams starts May/June

    Scuffle broke out in Limpopo High Court, two prisoners shot dead in alleged escape attempt

    Police investigating multiple murders in Khayelitsha

    Trending Tags

    • community
    • #freejacobzuma
    • africa
  • Africa
  • World
  • Opinions
  • Economies
  • Entertainment
  • Sport
  • People
  • Motoring
  • Videos
  • News
    Angolan citizens in South Africa, granted Exemption Permit status

    R44 billion allocated for COVID-19 SRD grant: Lindiwe Zulu

    Eskom is ‘kaput’. It’s game over – energy experts

    Residents advised to brace for full week of loads shedding

    Knorr Cup-a-Soup Lite beef, vegetable products recalled

    Knorr Cup-a-Soup Lite beef, vegetable products recalled

    Gospel singer Deborah Fraser passes away

    Gospel singer Deborah Fraser passes away

    Basic Education to work with the Hawks in investigating Physics Paper 2 leak

    Second Chance Matric Programme exams starts May/June

    Scuffle broke out in Limpopo High Court, two prisoners shot dead in alleged escape attempt

    Police investigating multiple murders in Khayelitsha

    Trending Tags

    • community
    • #freejacobzuma
    • africa
  • Africa
  • World
  • Opinions
  • Economies
  • Entertainment
  • Sport
  • People
  • Motoring
  • Videos
No Result
View All Result
Townpress. Newspaper
No Result
View All Result
Home General news General

Public Enterprises warns it will oppose SA Airlink bid seeking to halt creditors meeting

Town Press by Town Press
June 22, 2020
in General
Reading Time: 2 mins read
0
Share on FacebookShare on Twitter

Johannesburg – The Department of Public Enterprises says it will oppose possible court applications by SA Airlink and aviation unions which seek to halt South African Airways Business Rescue Practitioners from convening a creditors meeting scheduled for Thursday.

DPE issued a statement on Monday morning warning that it was aware of pending court applications by SA Airlink, and possible court action by the National Union of Metalworkers and South African Cabin Crew Association.

READ ALSO

SANDF refutes claims it employs child soldiers

Republican Glenn Youngkin is Virginia’s new governor

The SA Airlink litigation seeks to have SAA placed under liquidation. The company also wants to halt the covering of a creditors meeting vote on the business rescue plan for SAA. SA Airlink believes there is no reasonable prospect in rescuing SAA.

The privately-owned company is owed R700 million by SAA.

DPE said it was not cited as a respondent in the SA Airlink application but as a shareholder at SAA if felt it necessary to intervene in the matter. The department said it will oppose the application on both fronts, for liquidating SAA and for halting the creditors meeting.

The creditors meeting is scheduled for Thursday.

“The BRPs have scheduled a creditors meeting for 25 June 2020 to vote on the business rescue plan. Should NUMSA and SACCA launch an application to stop the creditors meeting, DPE will oppose the application,” the department said.

“As we approach the final week to either endorse or reject the business rescue plan by the BRPs, it is disturbing that a competitor of SAA, which is 100% privately owned, as well as two labour unions, who should be acting in the best interest of their members, are seeking to destroy SAA by forcing a liquidation through the courts. The question is why? Is this really in the interest of SAA workers or the fiscus?”

“The government, as the sole shareholder of SAA, supports the business rescue plan where it results in a viable, sustainable, competitive airline that provides integrated domestic, regional, and international flight services.”

SAA has been struggling to operate for years. Its financial struggles culminated in it being placed under business rescue in December last year.

DPE said it had provided business rescue practitioners with R5.5 billion to help sustain the business rescue process, but questions have been raised about whether these funds were enough.

Facebook Comments

Tags: SA Airlink
Previous Post

Extraordinary China-Africa summit on solidarity against Covid-19 a true win for all

Next Post

President Ramaphosa warns of more job losses

Related News

SANDF refutes claims it employs child soldiers
General

SANDF refutes claims it employs child soldiers

February 7, 2022
Republican Glenn Youngkin is Virginia’s new governor
General

Republican Glenn Youngkin is Virginia’s new governor

November 3, 2021
Vaal residents to use water sparingly as Dam levels decline
General

Vaal residents to use water sparingly as Dam levels decline

September 21, 2021
Next Post
Ramaphosa has encouraged social distancing to curb the coronavirus, but what is it?

President Ramaphosa warns of more job losses

Please login to join discussion
Currently Playing

Stolen tyres paraded as bargain deal online

Stolen tyres paraded as bargain deal online

Stolen tyres paraded as bargain deal online

Business
Watch Naledi Manyoni throw baby to safety #freejacobzuma

Watch Naledi Manyoni throw baby to safety #freejacobzuma

Community
IEC raises complaint with Bidvest-Lithotech over Indelible Ink

IEC raises complaint with Bidvest-Lithotech over Indelible Ink

Community
Mthethwa ‘absolutely horrified’ after Babes Wodumo assault video

Mthethwa ‘absolutely horrified’ after Babes Wodumo assault video

Community
Alph Lukau “raising the dead” is a fraud

Alph Lukau “raising the dead” is a fraud

Community
Moozlie says “its just a campaign” and no crash

Moozlie says “its just a campaign” and no crash

Community
Moozlie Mabena involved in a “live video” crash #Moozlie

Moozlie Mabena involved in a “live video” crash #Moozlie

Community

Police hunt suspects who shot dead Welkom man in parking lot

Community
First Human Clinical Trial of HIV Drug Gammora Offers Potential Cure

First Human Clinical Trial of HIV Drug Gammora Offers Potential Cure

General
Madonsela praises Zuma for new approach on Nkandla

Madonsela speaks on land expropriation without compensation

Community
De Lille vows to fight accusers all the way

De Lille likens DA battle to boxing match

Community
Kaizer fans rampage at Moses Mabhida is Shameful

Kaizer fans rampage at Moses Mabhida is Shameful

Community

POPULAR NEWS

Live mortars found in Eastern Cape dam

Live mortars found in Eastern Cape dam

October 14, 2019
Africa agrees to giant trade bloc, but Nigeria, South Africa sit it out

Africa agrees to giant trade bloc, but Nigeria, South Africa sit it out

March 21, 2018
Upskilling public servants to improve service delivery

Upskilling public servants to improve service delivery

October 17, 2017
Just In: Faith Nketsi allegedly prostituting ladies for cash

Just In: Faith Nketsi allegedly prostituting ladies for cash

May 19, 2018
Media 24 an Epitome of Poor Journalism – SAMWU

Media 24 an Epitome of Poor Journalism – SAMWU

May 16, 2018

EDITOR'S PICK

Dlamini-Zuma indicates readiness for presidency

Dlamini-Zuma indicates readiness for presidency

February 7, 2017
Cyril Ramaphosa commends work of NGOs

Deputy President sets eyes on SOEs

January 18, 2018
Big bother over Nigerian Big Brother filmed in South Africa

Big bother over Nigerian Big Brother filmed in South Africa

January 26, 2017
An open letter to NORTH WEST COMMISSIONER OF POLICE and SOUTH AFRICAN HUMAN RIGHTS COMMISSION (SAHRC)

Fallen SAPS officers to be honoured

September 2, 2018
Townpress Newspaper

At Town Press, we believe everyone who has a story to share, deserve to be heard. Town Press is a current affairs publication that encourages citizens' journalism, as a way to create access for communities to the media.

Follow us

.

  • Africa
  • AU
  • Business
  • Community
  • Coronavirus
  • Crime stats
  • Culture
  • Economies
  • Editor Picks
  • Education
  • Entertaiment
  • Events
  • Featured
  • Finance
  • General
  • General news
  • International
  • Lifestyle and Beauty
  • Markets
  • Media
  • Motoring
  • notices
  • Opinions
  • People
  • Pictures
  • Premium
  • Public Statement
  • Right now
  • Social Media
  • Sport
  • Technology
  • Tourism
  • UN
  • Weather
  • World

.

  • R44 billion allocated for COVID-19 SRD grant: Lindiwe Zulu
  • Residents advised to brace for full week of loads shedding
  • Kim Jong Un slams North Korea pandemic response, deploys army
  • DFFE calls to nominate members of air quality panel
  • Terms and conditions
  • Comments Policy
  • Cookie Policy (ZA)
  • Notices

© 2021 Townpress Newspaper, South Africa - Townpress logo & associated media rights are the intellectual property of Randworth,SA.

No Result
View All Result
  • News
  • Africa
  • World
  • Opinions
  • Economies
  • Entertainment
  • Sport
  • People
  • Motoring
  • Videos

© 2021 Townpress Newspaper, South Africa - Townpress logo & associated media rights are the intellectual property of Randworth,SA.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Go to mobile version