SA Roadlink is solvent, continues to operate safely – CEO

SA Roadlink is solvent and will continue to operate on South African roads, the company has said.

“SA Roadlink is solvent and continues to operate safely on South Africa’s national roads … continuing its daily business of providing safe and affordable transport,” CEO Allan Reddy said today.

Reddy said media reports of the company applying for liquidation were incorrect.

“Recently we have taken delivery of 25 brand new, ultraluxurious coaches with an exceptional safety record,” he said.

The New Age newspaper had reported that the company owed FirstRand Bank R6 million. The bank reportedly applied for a liquidation order, claiming the bus company was in a “dire financial position and unable to pay its debts”.

The New Age later reported that SA Roadlink had reached a settlement with the bank and would not be liquidated. According to the newspaper, SA Roadlink bought five buses, each worth R1.08 million in 2011, and was R1.4 million in arrears on the payments, excluding interest, by November 2012.

It also reportedly owed R1 million to the bus-manufacturing company Scania SA.



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