State-owned regional airline SA Express has reacted strongly to the ruling by the Johannesburg High Court on Thursday that it be placed in business rescue. The airline stated in a press release on Friday that it was seeking further legal advice on the matter. The company headed its release “SA Express slams Business Rescue judgement as unsatisfactory”.
(A service provider to SA Express, Ziegler SA, brought the application to the court to place the airline under business rescue. SA Express reportedly owes Ziegler R11.3-million and the airline is also reportedly technically insolvent.)
“The review of the judgement by SA Express’ lawyers indicates that the court exceeded what was required and granted orders not sought by the applicant,” stated the airline in its press release. “The court has also not made any order on whether the matter was urgent or not, in circumstances when the urgency was specifically opposed.”