Johannesburg – The Democratic Alliance (DA) has called on the South African Airways (SAA) business rescue practitioners (BRPs) to release the long-overdue SAA business rescue plan.
DA MP ALF Lees said, in a statement, it was surprising that there was still no sign of the business rescue despite the expiry of the June 15 2020 extension granted by the court.
“The continuous delays and missed deadlines make a complete mockery of the entire process. It also reaffirms suspicions that the BRPs were never in control of the process because it was intercepted by political meddling,” he said.
The national carrier went into business rescue in December 2019 and the Business Rescue Practitioners were required by the Companies Act to produce a business rescue plan with 25 days.
Lees also said the BRPs had purportedly been based on the pronouncement of Minister of Public Enterprises Pravin Gordhan that SAA will not be allowed to be liquidated and by implicated, further taxpayer bailouts will be paid to the airline or will go toward a reincarnated new company.
