SAA business rescue practitioners suspend airline operations

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.

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