SAA business rescue process to finish in March

File: SAA planes seen at the OR Tambo International Airport. AFP/Michele Spatari 

JOHANNESBURG - South African Airways’ business rescue process (BRP) is expected to be completed at the end of March.

This is according to the national carrier's business rescue practitioners.

READ: 2021 Budget: SAA BRPs ask for bailout, again

But, the BRP's have clarified to creditors and employees that they still have to finalise outstanding issues.

These issues include payments to post-commencement creditors and payments to employees

READ: SAA business rescue: Employees still in limbo

The BRPs will then be expected to exit the airline and hand over SAA’s affairs to the interim board and management.

The rescue practitioners say they have been able to reduce liabilities of the airline thanks to successful negotiations and compromises from creditors.

Source
eNCA

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