No decisions taken on SAA draft rescue plan, says DPE
There were reports earlier that government has agreed to fund a restructuring of the state-owned airline if a business rescue plan is adopted.
JOHANNESBURG - The Public Enterprises Department on Monday said it had not yet discussed a draft business rescue plan (BRP) for the struggling South African Airways (SAA).
There were reports earlier that government had agreed to fund a restructuring of the state-owned airline if a business rescue plan was adopted.
However, government issued a statement on Monday saying that no decisions had been taken on some of the proposals contained in the plan.
The department said that it would review the plan, explore various funding options and communicate a decision in due course.
SAA was placed under business rescue in December, after which business rescue practitioners took over the running of the airline and have been working on a plan to save the business.