UNPROFITABLE ROUTES
State prying into SAA plan may derail business rescue
09 February 2020 - 23:23
Any attempt by the government to intervene in the efforts by independent business experts to rescue state-owned airline SAA from financial ruin by preventing their decision to stop flights on most domestic routes could derail the process.
SAA is in business rescue, a form of bankruptcy protection aimed at rehabilitating a financially distressed company. The airline has reported several years of operational losses and absorbed billions of rand in government bailouts...
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