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SAA's BRPs criticised for delaying rescue plan

The plan was expected to be made public on Friday but the practitioners have asked for an extension to 8 June.

saa-flightjpg

JOHANNESBURG - South African Airways (SAA)'s business rescue practitioners said that they were still in talks with the relevant parties over the future of the embattled airline and therefore needed more time to publish their business rescue plan.

The plan was expected to be made public on Friday but the practitioners have asked for an extension to 8 June.

They have been trying to finalise a rescue plan since they took over in December.

Les Matuson and Siviwe Dongwana said that they needed time to consult creditors, unions and shareholders on their draft plan before producing a final one.

They anticipate that this will happen during the first week of next month.

The practitioners said that the extension would not stop them from working to ensure progress in the business rescue plan at SAA and to protect the airline's interests.

The practitioners are however being criticised by the Public Enterprises Department and unions for delaying the plan despite having almost six months to publish it.