The hearing to determine whether SA Express has to be liquidated, has been postponed until 28 October.

This is to provide for the conclusion of the ongoing sales process, which entails either the sale of the entire airline as a going concern or the sale of the airline assets, the provisional liquidator, Aviwe Ndyamara of the Tshwane Trust Company, told Fin24 on Thursday.

No fewer than 17 parties have expressed an interest in the state-owned regional airline.

SA Express was placed in provisional liquidation at the end of April this year after its business rescue process failed.

The state provided more than R1.2 billion in urgent financial support for the 2019/2020 financial year. Its shareholder, the Department of Public Enterprises, has in the past acknowledged that mismanagement took place at the airline.

Employees have already received certificates indicating that their termination was due to liquidation. A court date was initially set for 9 September to determine whether SA Express should be liquidated or not.

Offers listed in a confidential document, seen by Fin24, include some interested only in specific assets, mostly related to aircraft engines and components. None of the offers appear to be without conditions to be met, including completing due diligence studies.

A few of the offers appear to be from overseas investors. Legally their ownership in domestic airlines in SA would not be allowed to exceed 25%.

SA Express is not currently a going concern. On top of that, the airline industry has been devastated by the coronavirus pandemic and related lockdowns.

Employees have since turned to the Human Rights Commission in an attempt to try and get their outstanding salaries paid.