saa rescue solidarity court case
The logo of South African Airways (SAA) is seen on an aircraft at O.R. Tambo International Airport in Johannesburg, South Africa, February 14, 2019. REUTERS/Mike Hutchings

Home » South Africa Union Files Court Case to Force SAA Rescue

South Africa Union Files Court Case to Force SAA Rescue

JOHANNESBURG – A South African union filed a case on Thursday asking a court to subject the distressed state-owned airline SAA to a business rescue, with the aim of restoring it to profitability. Solidarity, which mostly represents white, Afrikaans-speaking employees, said it would “mean that the court can appoint a business rescue practitioner with comprehensive […]

By Reuters
21-11-19 13:13
in Business
saa rescue solidarity court case
The logo of South African Airways (SAA) is seen on an aircraft at O.R. Tambo International Airport in Johannesburg, South Africa, February 14, 2019. REUTERS/Mike Hutchings

JOHANNESBURG – A South African union filed a case on Thursday asking a court to subject the distressed state-owned airline SAA to a business rescue, with the aim of restoring it to profitability.

saa rescue solidarity court case
The logo of South African Airways (SAA) is seen on an aircraft at O.R. Tambo International Airport in Johannesburg, South Africa, February 14, 2019. REUTERS/Mike Hutchings

Solidarity, which mostly represents white, Afrikaans-speaking employees, said it would “mean that the court can appoint a business rescue practitioner with comprehensive powers to rescue the airline”.

A crippling six-day strike in the past week has pushed South African Airways to the brink of financial collapse.

Such a rescue would hand over control to a busi­ness res­cue prac­ti­tioner who then tries to restore the com­pany in order to avoid liquidation.

(Reporting by Tim Cocks; Editing by Toby Chopra)