SA Express liquidation on hold as several potential investors emerge

Provisional liquidators of South African regional carrier SA Express are attempting to find a buyer for the airline, claiming that they are engaging with six or seven parties which have expressed interest in the company. Their effort follows court approval on 15 June to extend their powers, in order to explore the possibility of attracting investment in the airline. Final liquidation orders for SA Express – which would have simply resulted in the dismantling of the company and disposal of its assets – have been postponed until 6 September, giving the provisional liquidators a three-month window to secure a deal. One of the liquidators, Aviwe Ntandazo Ndyamara, disclosed the situation as he belatedly testified to the parliamentary standing committee on public accounts on 17 June. The liquidators had previously been due to appear before the committee but failed to show – apparently due to a communication mix-up – and the committee chair, Mkhuleko Hlengwa, had threatened to subpoena them. Ndyamara stressed that there had been “no intention” to undermine the process and that the liquidators had wanted to provide a proper update on the SA Express situation. He told the committee that interest in the airline had emerged from several potential investors.<br/>