South African Airways’ (SAA) Business Rescue Practitioners (BRPs) Siviwe Dongwana and Les Matuson have received another extension from lenders and creditors to publish their long-awaited business rescue plan to save South Africa’s embattled flag carrier from liquidation. A majority of lenders and creditors agreed to the extension. In the request for a postponement, the Business Rescue Practitioners (BRPs) pointed out that the uncertainty of the impact of the coronavirus pandemic on South African Airways (SAA) and the global aviation industry as well as the need for lengthy redundancy talks with labour unions makes an extension inevitable. The new deadline for the business rescue plan is the 29 May 2020.
Published by Aviation, Travel and Conservation News - DAILY from Eastern Africa and the Indian Ocean islands
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