SAA business rescue practitioners suspend airline operations
Administrators are putting the state-owned carrier under “care and maintenance” until funding for a restructuring plan is found.
FILE: SAA planes. Picture: EWN
JOHANNESBURG – The SAA business rescue practitioners have suspended all operations at the struggling airline.
Administrators said they were putting the state-owned carrier under “care and maintenance” until funding for a restructuring plan was found.
SAA entered a local form of bankruptcy protection in December after heavy financial losses in the past few years, now worsened by the COVID-19 pandemic.
Government is yet to come up with more than R10.5 billion to support a restructuring plan published by administrators in June.