Pic: Moneyweb
South African Airways has received a reprieve with the business rescue practitioners shelving their liquidation proposals until 1 May, pending further negotiations with all parties concerned, Public Enterprises Minister Pravin Gordhan said on Saturday.
On Saturday morning, Gordhan convened a high-level meeting between senior government leaders and representatives of the SAA unions - including the South African Transport and Allied Workers' Union, the National Union of Metalworkers of South Africa, the South African Cabin Crew Association and the South African Airways Pilots' Association.
The purpose of the meeting was to discuss the status of the business rescue process, finalise a leadership compact, the process to give input to the business rescue plan, and how the impact of the business rescue process on employees could be mitigated.
In respect of the immediate threat of liquidation, it was agreed with the BRPs that they would not consider an application for liquidation and, in addition, they would suspend the section 189 process and offer to employees until the close of business next Friday, May 1, the department said.
- African News Agency
