Pressure mounts for SAA rescue practitioners to call urgent creditors' meeting

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article
No indication was given if and when any funding would be obtained from government to implement the SAA's rescue plan
No indication was given if and when any funding would be obtained from government to implement the SAA's rescue plan
Silas Stein/picture alliance via Getty Images

Calls are increasing for the rescue practitioners of South African Airways to make a decision about the conclusion of the rescue process and not to procrastinate any longer.

"They need to call an urgent creditors' meeting to wind the company down. They cannot continue to trade recklessly. It cannot be an open-ended rescue plan agreement," a reliable source, who wants to remain anonymous due to the sensitive nature of the process, told Fin24 on Thursday.

This view is supported by an SAA creditor, who also spoke to Fin24 on condition of remaining anonymous. On Monday SAA's shareholder, the Department of Public Enterprises, said it has received further unsolicited expressions of interest - locally and internationally - in SAA and its subsidiaries, which include Mango

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.47
-1.2%
Rand - Pound
19.99
-1.2%
Rand - Euro
16.85
-1.2%
Rand - Aus dollar
10.85
-0.9%
Rand - Yen
0.13
-1.7%
Gold
1,780.44
-0.2%
Silver
24.18
-0.7%
Palladium
1,999.78
-3.4%
Platinum
1,049.32
-0.4%
Brent Crude
85.82
+0.9%
Top 40
59,674
-1.3%
All Share
66,189
-1.2%
Resource 10
61,545
-2.6%
Industrial 25
85,379
-0.1%
Financial 15
13,931
-1.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Facebook is facing a fresh crisis after a former employee turned whistle-blower leaked internal company research . Do you still use Facebook?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, the benefits outweigh the risk for me
23% - 181 votes
No, I have deleted it
48% - 371 votes
Yes, but I am considering deleting it
29% - 229 votes
Vote