Thando Maeko
3 minute read
27 Nov 2020
8:34 am

Workers save SA Express

Thando Maeko

Government will have minimal interference in the day-today operations.

SA Express has been under provisional liquidation since April last year. Picture: Twitter/@flySAExpress

An entity owned by SA Express workers has secured two anchor investors, Imperial Capital and the Landile Shembe Foundation, to help the airline restart its operations. The R250 million that is expected to be raised from the two organisations, will go towards recapitalising the beleaguered airline, according to Fly-SAX spokesperson Thabsile Sikakane. The transaction is subject to approval by, among others, the airline’s provisional liquidators and the Department of Public Enterprises (DPE). The transaction is expected to be completed in “early 2021,” Fly-SAX said in a statement. Fly-SAX, which was founded by a group of the airline’s workers earlier this...