South African Airways administrators delivered a stark choice to those opposing their plan to fire the entire workforce and sell assets: it’s either that or full liquidation.
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South African Airways plans to lay off its entire 4 700-strong workforce after failing to persuade the government to provide more financial help.
Uber Technologies withdrew its financial guidance for 2020 and said it will write down about US$2-billion in investments after the coronavirus pandemic upended the ride-hailing business.
South African Airways has been denied any further funding by government as the national carrier looks for ways to recover from the coronavirus crisis and business rescue.
Data from vehicle tracking companies Netstar and Tracker shows the number of vehicles on South Africa’s roads plunged during the first few days of the national lockdown – as did vehicle theft and hijackings.
Ride-hailing company Bolt Technology, formerly known as Taxify, is seeking credit support from the Estonian government after banks turned down requests for loans.
Fuel prices will fall by a record in April, the Automobile Association of South Africa predicted on Friday, but few motorists and businesses with fleets will be able to take advantage.
South African Airways will suspend all its domestic flights with effect from Friday, 27 March. The suspension of all domestic flights follows the suspension of both international and regional flights.
Roads agency Sanral has cancelled the tender it issued in August last year for the continued management of e-tolls and claims it has not been informed of any decision by the government on the future of the system.
Embattled state-owned airline South African Airways will suspend all international and regional flights, retaining only the Johannesburg-Cape Town route, as it battles the devastating effects of coronavirus lockdowns.