FF Plus welcomes court ruling on SA Express business rescue

6 February

The FF Plus welcomes the ruling by the Johannesburg High Court that the SA Express airline must, like the SAA, also be placed into business rescue. The airline was plunged into chaos after it was unable to meet its obligations due to its serious financial troubles. 

It is extremely disconcerting and irresponsible of SA Express to plan to appeal against this ruling. SA Express should just accept the court ruling seeing as it is the only way to prevent further financial losses. Appealing will just incur unnecessary legal costs and will waste more of taxpayers’ money.

SA Express has hit rock bottom due to poor financial decisions, rash transactions and entering into agreements that are not financially feasible.

Flights are being cancelled left and right, the airline is operating on government money and financial bailouts and that is simply just not sustainable. Business rescue is the only solution that will benefit SA Express, its employees, the taxpayers and passengers.

The time has come for state-owned entities, like SA Express, to realise that legislation is not just a guideline and that they also need to comply with the provisions of the Companies Act.

Issued by Wouter Wessels, FF Plus MP and chief spokesperson: Public Enterprises, 6 February 2020