Comair’s business rescue process should be fully concluded by March 31 2021, if all goes according to plan. It is set to be back in the skies by December.
Is Discovery’s R3.4bn Covid-19 provision enough?
In mid-June, it warned that it would book an approximate R3.3 billion charge as a reserve for “the potential claims and lapse impact of Covid-19 that are projected to emerge in future periods”.
Outa said it will be a cause for concern if Sanral has erred, and that somebody at Sanral will have to be held accountable if this was proven.
Many of its members have however expressed dissatisfaction with the fund, with some not receiving payments for such claims dating far back as March 2020.
Meanwhile, the Democratic Alliance (DA) said yesterday that the meeting should have had one item on the agenda: the groundwork to begin the liquidation of SAA.
‘This draconic measure has an extremely negative impact on the financial sustainability of wine farms which attract a large number of visitors and tourists, particularly over weekends,’ Agri SA said.
‘Fear factor’ tourism’s biggest stumbling block

Business News ‘Fear factor’ tourism’s biggest stumbling block

Tsogo Sun has put all of its staff on severe salary cuts and has avoided lay offs.

Business UK ruling positive development for SA claimants

The UK High Court’s recent clarification, that the Covid-19 pandemic and the government lockdown and public response were a single cause of the covered loss, is a positive development for South African claimants.

Business Repo rate stays the same

The Monetary Policy Committee has decided to keep the repo rate at 3.5% effective from tomorrow.

Business News Landlords getting eviction notices ready for end of lockdown

Landlords are getting their eviction orders ready to be executed at the end of lockdown, which was this week extended to 15 October, as about a quarter of tenants have fallen into arrears since the lockdown in the country started.

Business News SAA creditors to meet on Friday as funding deadline passes

Because the money needed to conclude the state-owned airline’s business rescue process wasn’t forthcoming, the meeting will have to decide if SAA has a future at all.

Lockdown leads to data boom

Business News Lockdown leads to data boom

Increase in sales did not necessarily lead to big increases in overall earnings.

SA’s economic freedom limited

Business News SA’s economic freedom limited

South Africa ranks 113 out of 162 in terms of freedom to trade internationally.

Business News Cosatu calls on government to help workers sinking in debt

The trade union says this was caused by ‘reckless’ lending and high-interest rates by the banks and the Reserve Bank.

Business News New luxury living and retail development hopes to be a Jewel in Jhb inner city

The R1.8 billion Jewel City development in the vibrant Maboneng district opened its doors to the public on Wednesday, changing the face of Johannesburg inner city with its design.

Bidvest still cleaning up

Business News Bidvest still cleaning up

The company’s net debt increased from R7.8 billion a year ago to R19.2 billion.

Boardroom a tad yesteryear …

Business News Boardroom a tad yesteryear …

Foschini group’s board has been dominated by white males for decades.

Pick n Pay wins six-year legal battle

Business News Pick n Pay wins six-year legal battle

Maluleke’s attempts to challenge her dismissal at the Commission for Conciliation, Mediation and Arbitration (CCMA) were unsuccessful.

Business News Nonkululeko Gobodo quits Clicks board after furore over hair ad

Nonkululeko Gobodo has resigned as Clicks’ non-executive director, effective from 14 September.

Eskom’s application to Nersa could mean 15% average tariff increase

Business News Eskom’s application to Nersa could mean 15% average tariff increase

In its application, Eskom proposes that the R5.4 billion be added to the R13 billion RCA balance and the total R18.4 billion liquidated through increased tariffs next year.

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