Rescue practitioners ask for another delay in publishing SAA’s rescue plan

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The SAA business rescue practitioners say further consultation with affected parties is required

 

Administrators at SAA have asked creditors to approve an extension until June 8 for the publication of a business rescue plan for the struggling state airline, according to a letter seen by Reuters.

The business rescue practitioners said in the letter dated May 28 that despite the rescue plan being ready for publication, further consultation with affected parties was required. The plan was due to be published on Friday.

Earlier this week, the business rescue practitioners told creditors that they were engaging with the government about plans for a restructured or a new airline, which stood a reasonable chance of success provided funds were made available.

The letter to creditors, published on business rescue practitioner Les Matuson’s website, also responds to the many criticisms made against them by public enterprises minister Pravin Gordhan.

With Carol Paton

Reuters

BusinessLive`

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