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Bankruptcy Protection

A South African Airways (SAA) Airbus A320-200 aircraft is pictured after landing at Cape Town International Airport in Cape Town, South Africa December 9, 2019. REUTERS-Sumaya Hisham-File Photo

South African Airways creditors approve rescue plan

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.
Space exploration firm OneWeb has filed for Chapter 11 bankruptcy protection, GeekWire reports, leaving uncertainty about the 74 satellites it has in orbit and its plans to provide high-speed internet from space.

UK government takes $500 million stake in space exploration firm OneWeb

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.

Latin America’s largest airline files for bankruptcy protection

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.

Intelsat files for bankruptcy, seeks to restructure

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.
A South African Airways (SAA) plane is towed at O.R. Tambo International Airport in Johannesburg, South Africa, January 18, 2020. REUTERS-Rogan Ward-File Photo

South African Airways layoff deadline suspended pending court ruling

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.
A passenger is seen at the South African Airways (SAA) customer desk, after SAA announced that it would immediately suspend all intercontinental flights until May 31 in response to a government travel ban aimed at stopping the spread of the coronavirus disease (COVID-19), at the O.R. Tambo International Airport in Johannesburg, South Africa March 20, 2020. REUTERS/Siphiwe Sibeko

South African Airways could shed staff from May 12 – specialists

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.
Shoppers walk past an Edgars store at a shopping centre in Soweto, southwest of Johannesburg, file. REUTERS-Siphiwe Sibeko

South African retailer Edcon to file for bankruptcy protection

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.
SA Express, which flies to domestic and regional destinations, entered a form of bankruptcy protection earlier this year after losing a court battle with a contractor, logistics firm Ziegler.

South African state airline SA Express faces liquidation

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.
A South African Airways aircraft is seen at O.R. Tambo International Airport in Johannesburg, South Africa January 12, 2020. REUTERS-Sumaya Hisham-File Photo

South African Airways faces wind-down or liquidation as cash runs out

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.

South Africa aiming for new viable airline from SAA business rescue

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.
Space exploration firm OneWeb has filed for Chapter 11 bankruptcy protection, GeekWire reports, leaving uncertainty about the 74 satellites it has in orbit and its plans to provide high-speed internet from space.

OneWeb files for bankruptcy protection

Space exploration firm OneWeb has filed for Chapter 11 bankruptcy protection, GeekWire reports, leaving uncertainty about the 74 satellites it has in orbit and its plans to provide high-speed internet from space.

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