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Solidarity to bring application to place SAA under business rescue

SABC News SAA Reuters - Solidarity to bring application to place SAA under business rescue

Trade union, Solidarity, says it is considering bringing an application to place South African Airways (SAA) under business rescue.

When the union attempted to bring a similar application earlier, Public Enterprises Minister Pravin Gordhan held a meeting with it to discourage such a move.

If the airline is placed under business rescue, it could be put under some form of curatorship and have its management changed.

The head of the Solidarity Research Institute Corné Mulder says, “If we continue on the current route, it’s almost inevitably on its way to failure. The financials are extremely dire and we are saying it’s very late in the day, but there’s still a chance although that window is closing. If we don’t do something radical to turn it around now, then there will not be an airline.”

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