SA Express placed under provisional liquidation

The High Court in Johannesburg has placed SA Express under provisional liquidation. This after business rescue practitioners tasked with turning the airline around, filed an urgent court application to have the struggling carrier liquidated.

 

JOHANNESBURG - SA Express has been placed under provisional liquidation.

All affected parties still have time to oppose or motivate why final liquidation should not be ordered.

In the meantime, a liquidator will be appointed.

READ: Court bid to liquidate SA Express

The rescue practitioners say there's no hope of SA Express making it after the government denied post-commencement funding.

South African Express is also unable to pay workers for March and most of April.

Since the airline was placed into business rescue in February, the rescue practitioners have failed to secure funding from government.

Source
eNCA

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