Capital markets and financial services research company Intellidex reported on April 14 that State-owned national flag-carrier South African Airways (SAA) was now set for liquidation. Intellidex Head of Capital Markets Research Peter Attard Montalto affirmed that liquidation had been "inevitable" but its timing had been unclear because the Department of Public Enterprises had tried to keep the airline alive while the National Treasury (NT) had sought to "kill it off". "NT has won and this is a rare piece of positive news," he wrote. "Government (ie NT) has denied all requests by the business rescue practitioners [BRPs] for more money and permission to borrow (including in hard currency). There are simply no other options left with banks also saying no, and guarantees not available for other forms of lending."
