Carol Paton Editor at Large

The rescue of SAA — even though it has not fully run its course — is already an expensive failure.

With R5.5bn spent running the business since December, there is no rescue plan on the table, employees — except for SAA’s top and senior management — are now going unpaid and millions in fees have flowed to the business rescue practitioners, lawyers, aviation consultants and accounting firms.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now