Treasury commits to help source funding for SAA rescue plan

Thursday 16 July 2020 - 11:51am
File: They are accusing the public enterprise's department of delaying in saving and restructuring the airline to avoid liquidation.

File: They are accusing the public enterprise's department of delaying in saving and restructuring the airline to avoid liquidation.

AFP/Guillem Sartorio

JOHANNESBURG - The Department of Public Enterprises has welcomed Treasury's commitment to help source funding for SAA’s business rescue plan.

The rescue plan requires about R10-billion for different aspects of the restructuring process.

READ: Unions relieved SAA business rescue process is over

This includes the emergence of a competitive national airline and severance packages for over 2,000 employees at the national carrier.

SAA's business rescue plan was approved by creditors this week.

Source
eNCA

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