South African state-owned regional airline SA Express has been placed under provisional liquidation by the Johannesburg High Court on 28 April 2020. The airline is the first state-owned entity to do so after the failure of its business rescue process. The appointed business rescue practitioners of SA Express, Phahlani Mkhombo and Daniel Terblanche, filed an urgent court application to the Johannesburg High Court on 25 March 2020 to provisionally liquidate the airline after the South African Government denied post-commencement funding. This comes after SA Express was placed under business rescue, a form of bankruptcy protection, in February 2020 and the suspension of operations due to the coronavirus pandemic on 18 March 2020. We”ll keep you posted!
