SA Express has been in provisional liquidation and about to enter its final liquidation if they don’t get a buyer or investor before July 21 to reach the Joint Provisional Liquidation (JPL) rescue plan.
JPL had approved an extension for SA Express until September 9, to give the sole shareholders and South African States time to explore all available options to salvage the airline.
JPL reached the agreement to auction SA Express and called for Expression of Interest (EOI) from buyers interested in acquiring the bankrupt Carrier either as a whole or piecemeal.
The announcement which was made by JPL through an online auction notice stated: “JPLs are looking for EOIs covering either the sale of the business entity as a going concern, investment as an equity partner or buyer for part or all the airline assets.
Among the hardware listed are four CRJ200ERs – ZS-NMI (msn 7153), ZS-NML (msn 7201), ZS-NMM (msn 7234), and ZS-NMN (msn 7237) – all parked at Johannesburg O.R. Tambo as well as associated General Electric CF34-3B1 powerplants, spare parts, rotables, tools, and support equipment. SA Express’s various licences (operator’s licence, AOC, AMO, ATNS, ICASA etc.) are also up for sale alongside its IT infrastructure, and all other “intangible assets required to operate an airline in Southern Africa”.
According to JPL, the sales must be completed in early July as SA Express has two license which are set to expire by July 31 and December 31 2020.
” The deadline for submission of offer is July 21, to enable complete sales or investment agreement before the expiration of the license.