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10 Nov 2008Travel: Nationwide finally comes to an end
Recent Gauteng Business News
The low-cost airline Nationwide, which was placed under provisional liquidation this year in an effort to sell the company as a going concern, has now officially been placed under liquidation. The liquidators handling the process, Tshwane Trust, confirmed in a circular yesterday that after lengthy negotiations the struggling company could not successfully be sold as a going concern.
It is expected that the Master of the High Court will soon request the first meeting of creditors. Meanwhile, an auction will also be held later this month to sell all Nationwide’s goods.
According to Solidarity spokesperson Jaco Kleynhans of Gauteng, the majority of Solidarity’s members at Nationwide have already found other work, but there are still a number of less skilled employees who have not yet found other job opportunities.
Kleynhans says that in the coming months in particular, the aviation industry will experience huge pressure due to the current economic conditions. “The challenges now faced by the industry will place pressure on the management of the industry as a whole and everything possible must be done to ensure job security,” Kleynhans explains.
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