SAA facing liquidation

Date: Sep 18, 2020

SAA facing liquidation due to lack of funds

State-owned South African Airways, SAA is facing liquidation, after the government has not been able to find investors to fund the airline's business-rescue process. The government had until this week to source funding and determine whether to continue with the business rescue plane to save the airline, which was already operating on a shoestring budget which was near depletion. Meanwhile, administrators at SAA have called a creditor meeting for tomorrow (Friday, 18 September), as funding for the airline's restructuring has not been received as anticipated. On #SAfmBTH with Bongi Gwala spoke to Sam Mkokeli, Spokesperson for the Department of Public Enterprises (DPE).

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