SA Express Placed Under Provisional Liquidation

Article by Khanyi Moshia

State-owned airline SA Express faced the possibility of liquidation when business rescue practitioners filed an urgent court application to have the airline liquidated.

The matter was heard earlier today over zoom, and the High Court in Johannesburg has placed the airline under provisional liquidation. What this means is, all affected parities still have time to say why the Judge should NOT order a final liquidation.

The state-owned airline hasn’t been to pay its employees for March and most of April. With the nationwide lockdown and travel restrictions in place, the airline was suffering even more – and their only lifeline was the UIF Covid19 relief fund, which was approached to assist pay employees.

The airline was also placed into business rescue in February, unfortunately the rescue practitioners failed to secure funding from government.

For more updates, visit our website and remember to follow us on Facebook and Twitter!

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s