Share

Velvet Sky proposes rescue plan in court

Pietermaritzburg - Velvet Sky outlined a rescue plan involving flights to other African countries before the Pietermaritzburg High Court on Wednesday.

Lawyers acting for the grounded low-cost airline have put forward a plan which would involve foreign finance.

Lawyers acting for a major creditor and Velvet Sky were discussing terms and developments. They said they would return to the high court later on Wednesday.

BP Southern Africa has filed papers for the liquidation of the airline which has been flying for less than a year, because it is allegedly in arrears on its fuel bill.

On February 24, BP Southern Africa applied to the court for the provisional liquidation of the airline, which allegedly owes BP R29m for aviation fuel.

The airline suspended flights last Monday and customers with tickets do not know if they will get refunds or be able to reschedule their bookings.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.02
-0.6%
Rand - Pound
24.00
-0.4%
Rand - Euro
20.52
-0.3%
Rand - Aus dollar
12.35
+0.0%
Rand - Yen
0.13
-0.6%
Platinum
900.40
+0.4%
Palladium
998.40
-0.3%
Gold
2,212.97
+0.8%
Silver
24.70
+0.2%
Brent Crude
86.09
-0.2%
Top 40
68,068
+0.6%
All Share
74,264
+0.5%
Resource 10
56,909
+2.2%
Industrial 25
103,553
+0.3%
Financial 15
16,463
-0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders