Exclusive: Inside the bid to liquidate SA Express
Embattled airline slapped with a liquidation application, as it waits for news about a Treasury guarantee to help it access funding
12 September 2019 - 05:00
State-owned airline SA Express (SAX) — temporarily grounded last month by the Airports Company SA (Acsa) over a failure to pay R71m in airport fees — is facing a liquidation application from a shuttle service company over its alleged nonpayment of services valued at a relatively paltry R1.5m.
The liquidation application, filed this week by Mothebe Shuttle Services at the Joburg high court, comes as SAX awaits a decision by the National Treasury on whether to provide the airline with a R200m guarantee, which it needs to access a R300m loan facility it recently secured from the banks...
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