The long running liquidation of SA Express is entering its final stage, with liquidators aiming to fully wind up the state owned airline by April 2026.

After entering provisional liquidation in 2020 with liabilities nearing R1 billion, the process is now 90% complete.

The final hurdles involve tracking down 55 former employees still owed dividends and offloading the company’s remaining intellectual property.

Appointed liquidator Aviwe Ndyamara informed Parliament this week that the airline’s brand identity and name are currently on the market for R150,000.

This follows the 2022 cancellation of the airline’s operating licenses, which stripped the carrier of its most tangible assets. D

Despite a valiant R50 million bid by an employee consortium to save the group years ago, the airline’s insolvency ultimately proved insurmountable.

For the remaining workers, the wait for closure has been grueling. The liquidators have recovered approximately R3.7 million in free residue to be distributed among creditors, including about R250,000 earmarked for outstanding employee payments.

Each of the 55 untraced staff members is owed roughly R4,500 a small but symbolic sum in a saga that saw 600 people lose their livelihoods.

If the remaining employees cannot be located within the next two months, their funds will be transferred to the state’s Guardians Fund to allow the legal dissolution of the company.

The closure of SA Express marks the end of a turbulent era for South African aviation, shifting the focus toward a leaner, more privatized domestic market as the state seeks to distance itself from insolvent parastatals.

SOURCE: BUSINESS INSIDER AFRICA