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This is interesting. Employees of the bankrupt state-owned South African airline SA Express have pooled their money in a crowdfunding campaign and will become the new owners, instead of having it liquidated.

moneyweb.co.za/news/south-afri

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@jcbrand how horrible, if only the ceo got 1000x their pay they wouldnt be able to afford buying the company
@jcbrand That change is not going to make the ends meet, unless the new owners now take a large pay cut.

@avia

I don't know what will happen, but this airline was state owned and bankrupt pre-covid. Mostly due to government mismanagement and corruption AFAIK. Can hardly be worse.

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