Johannesburg - National carrier SAA’s business rescue practitioners believe there is a reasonable prospect the troubled airline can be saved despite the inevitable risks and challenges.
SAA’s business rescue practitioners, Les Matuson and Siviwe Dongwana, told its creditors and employees last month that their plan could be successfully implemented subject to the availability of further post-commencement funding and ongoing support from all stakeholders, including the government, staff, trade unions and suppliers.
Matuson and Dongwana undertook to investigate all options and take into account stakeholders’ input.
The business rescue practitioners met creditors and staff on December 20 at the Sandton, Johannesburg, head office of law firm ENSafrica.
“We believe the business rescue process will achieve a better outcome for all stakeholders than an immediate liquidation,” they told the company’s creditors and employees.