The South African Airways (SAA) creditors have approved another postponement for the launch of the airline’s business rescue plan.
The DA had earlier asked that this postponement be rejected.
This is now the fifth time the announcement of the plan has been postponed.
DA member of Parliament’s Standing Committee on Public Accounts (SCO), says business rescue practitioners Les Matuson and Siviwe Dongwana have requested that the launch be made only on June 15 after unions have cut back on the existing plan and additional asked for time to get input from the government.
“The latest postponement is a mockery of the business rescue process and we are amazed that Matuson and Dongwana have succumbed to the pressure of unions.
“The DA questioned the SAA business rescue process from the outset and this latest delay is confirmation that the business rescuers were never in control of the process,” Lees said.
According to the Companies Act, a business rescue plan must be submitted 25 days after the business rescue practitioners have been appointed. Those business rescuers have now had six months to submit their plan to creditors, Lees said.
The whole process had to be completed by 5 March.
