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South African Airways (SAA) creditors approved a rescue plan for the struggling airline on Tuesday that requires at least 10 billion rand ($596 million) in new funding, throwing the ball into the government’s court to come up with the cash.
OneWeb, which has its headquarters in the UK, filed for Chapter 11 bankruptcy protection in the US in March, after it was unable to secure financing. Bharti Global also will invest $500 million as part of the deal.
Latin America’s largest airline LATAM Airlines Group SA said on Tuesday the company and its affiliates in Chile, Peru, Colombia, Ecuador and the U.S. have filed for Chapter 11 bankruptcy protection in the United States.
Global satellite operator Intelsat filed for bankruptcy protection on Thursday, citing disruption from to its business from the virus pandemic, in a move aimed at restructuring its operations.
The deadline for South African Airways (SAA) staff to agree layoff terms has been suspended while a judge considers his ruling in a court case brought by two trade unions at the cash-strapped airline.
South African Airways could start shedding its 5,000 staff from May 12 if unions and workers do not accept a proposed severance deal, administrators trying to rescue the airline said on Sunday.
South African non-food retailer Edcon will file for a form of bankruptcy protection after the coronavirus pandemic has hammered sales, leaving it without money to pay creditors and suppliers, it said on Wednesday.
A South African court placed state-owned SA Express under “provisional liquidation” on Tuesday after the airline’s administrators said rescue efforts weren’t likely to succeed.
South African Airways (SAA) faces a wind-down or liquidation after specialists appointed to try to save the state-owned airline said on Thursday they had run out of funds.
The South African government will work with unions to ensure that a new financially viable and competitive airline emerges from South African Airways (SAA) business rescue process, the Public Enterprises Ministry said on Tuesday.
Abia State Governor Okezie Ikpeazu on Thursday gave automatic employment to two out of five 2019 Batch ‘B’ and ‘C’ corps members, who distinguished themselves during the National Youth Service Corps (NYSC) programme.
Chief Whip of the Senate, Dr Orji Kalu has described the demise of Igbo legendary and philosophical singer, Chief Chukwuemeka Maduka, popularly known as “Morocco” as a big loss to the country.
Liverpool are reportedly eyeing a move for Bayern Munich’s David Alaba in January amid the club’s defensive crisis.
The South East leaders on Thursday called on their youths to shun the destruction of government and private property and embrace peace.
The Secretary to the Rivers State Government, Dr. Tammy Danagogo, has expressed confidence that the Supreme Court’s verdict on Soku Oil wells will engender peace in the oilfield and its environs.
Everton boss Carlo Ancelotti’s faith in Dominic Calvert-Lewin has helped unlock the forward’s potential in the Premier League this season, former England captain Wayne Rooney said.
Benfica coach Jorge Jesus has labelled Bernardo Silva "ungrateful" after the Manchester City winger said the Portuguese giants are in need of a new president.
Ijaw youth in the western zone rose from an emergency meeting, weekend, insisting on restructuring of the country and demilitarization of Niger Delta creeks.
Security operatives, mostly soldiers, have taken over the guard of government buildings and diverted movements from such areas in Benin City, the Edo State capital.
The Police on Tuesday arraigned 71 persons before an Ilorin Magistrates’ Court for their alleged involvement in the looting of CACOVID palliatives at Agro Mall and Cargo Terminal, Ilorin.