Fly SAX named preferred bidder to take over SA Express

File: SA Express was placed under business rescue in April.

File: SA Express was placed under business rescue in April.

eNCA

JOHANNESBURG - Workers have taken the controls at SA Express.

They have purchased the embattled airline for R50-million.

However, the buyers do not acquire the current movable assets of the company. 

READ: SA Express provisional liquidation extended

These have to be auctioned off, and the proceeds used to reduce the purchase price. 

Any shortfall will be recovered from the bank guarantee provided to the joint liquidators. 

The state-owned airline was placed under business rescue in February.

Source
eNCA