SA Express to ask the UIF Covid-19 benefit fund for salaries
The state-owned airlines, which is already in business rescue, has completely run out of cash
SA Express has run out of cash and is expected to be among the first organisations to apply to the UIF temporary employee relief scheme (Ters) for assistance, under the expedited Covid-19 benefit.
The airline did not pay salaries for March. This makes it the first state-owned entity (SOE) to run out of cash. Many other SOEs have sailed close to the wind over the past two years, almost reaching this point, but have been saved at the last minute with government bailouts or government-arranged funding.