SAA could exit business rescue at end of February - dept

A plan for SAA to resume operations has not yet been agreed.

Picture: 123rf.com

JOHANNESBURG - The Public Enterprises Department has announced that South African Airways (SAA) could exit business rescue at the end of the month and a decision on an equity partner will be made by the end of March.

According to Reuters, the ministry made a presentation in Parliament stating that the remainder of a R10.5 billion bailout could flow to the airline now that an Appropriation Act had been passed.

A plan for SAA to resume operations has not yet been agreed.

The embattled airline has been under business rescue due to financial and management challenges, costing taxpayers billions of rands due to government bailouts.

Download the Eyewitness News app to your iOS or Android device.