28 April 2020

South Africa: SA Express has been placed under provisional liquidation! [update]

update (10 June 2020): According to Democratic Alliance (DA) MP Alf Lees, the liquidators have been granted the three-month extension by the Johannesburg High Court this morning.

update (10 June 2020):
The liquidators of South African state-owned regional airline SA Express want the
Johannesburg High Court to delay the final closure of the airline by three months, so that there is more time to investigate its affairs and work on a potential rescue plan. The request has been supported by some SA Express creditors and trade unions representing the airline's workers including the National Union of Metalworkers of SA (Numsa) and the South African Cabin Crew Association (Sacca).
 
update (29 April 2020): The final decision on the future of state-owned airline SA Express is to be made in June 2020.

South African state-owned regional airline SA Express has been placed under provisional liquidation by the Johannesburg High Court on 28 April 2020. The airline is the first state-owned entity to do so after the failure of its business rescue process. The appointed business rescue practitioners of SA Express, Phahlani Mkhombo and Daniel Terblanche, filed an urgent court application to the Johannesburg High Court on 25 March 2020 to provisionally liquidate the airline after the South African Government denied post-commencement funding. This comes after SA Express was placed under business rescue, a form of bankruptcy protection, in February 2020 and the suspension of operations due to the coronavirus pandemic on 18 March 2020. We'll keep you posted!

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