Workers have taken the controls at SA Express. They have purchased the embattled airline for R50-million.
However, the buyers do not acquire the current movable assets of the company.
These have to be auctioned off, and the proceeds used to reduce the purchase price.
Any shortfall will be recovered from the bank guarantee provided to the joint liquidators.
The state-owned airline was placed under business rescue in February.
In other news – Drama as Zodwa Wabantu forgets about the Show while enjoying S.e.x with Bae
South African media personality, Zodwa Wabantu, got herself into a bit of trouble after fans were left wondering why she was a no show at a recent event. The reality star, who was scheduled to appear at an event in KwaMashu, Durban on Sunday, 27 September 2020, admitted to running later after she got caught up with bae.
Zodwa took to Instagram to apologize to fans, blatantly stating, “F*cken Tired. I had S.e.x at Nelspruit with Bae drove Crazy to Reach Airport For Babes Wodumo’s event in KwaMashu. Girls trying to put Something on the Table.” Learn More
The post Fly SAX named preferred bidder to take over SA Express first appeared on News365.co.za.