SAA in business rescue

The Board of SAA (South African Airways), supported by the governement of South Africa has decided to place the SAA into business rescue. A press statement says, this would be "the optimal mechanism to restore confidence in SAA and to safeguard the good assets of SAA and help to restructure and reposition the entity into one that is stronger, more sustainable and able to grow and attract an equity partner".

Having this said, the operations of SAA will continue without any interruptions.

The SAA board and the goverment say, "Business Rescue is a well-defined process that will allow SAA to continue operating in an orderly and safe manner and to keep planes and passengers flying under the direction of a business rescue practitioner".