The showdown in the SAA rescue saga is almost here: within days we will know what public enterprises minister Pravin Gordhan has in his hand and whether it was a bluff all along.

On Tuesday creditors meet again to vote on the business rescue plan. The unknown factor is whether there will be money to fund the plan. Its viability rests on government funding: it assumes R2.2bn for restart costs; R2bn to pay retrenchment costs for staff; and another R6.2bn to settle various liabilities, including penalty payments to aircraft lessors and refunding of passengers who have bought tickets...

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