A unknown investor has saved cash stricken Sunair / Millionair. Johan Botha, Managing Director of Millionair is taking over management of Sunair.
The two DC9 aircraft leased from Millionair will bought by Sunair as part of the deal.
All previous debt were written off by creditors who settled for an undisclosed amount per rand. 1c out of a rand etc. The catch is that they must be allowed to render services to Sunair for a set period of time, which they will be allowed to charge more to make up for the loss.
Do not know if Millionair was also taken over by this investor?
