SAA rescue plan comes into operation

File: South African Airways approved over 3,000 voluntary severance packages.

File: South African Airways approved over 3,000 voluntary severance packages.

AFP/Bruce Bennett

JOHANNESBURG - South African Airways restructuring is going ahead as planned.

The business rescue plan has come into operation after outstanding conditions were fulfilled - a letter from government confirming that lenders would receive their guaranteed payments.

READ: SAA: Govt guarantee letter due Monday

SAA was placed in business rescue in December.

The practitioners say they are finalising the last administrative issues before the restructured SAA can take flight.

Source
eNCA

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