SAA suspends operations as funding falls short
The full R10.5bn could not be secured so all airline operations are to be placed under ‘care and maintenance’
The SAA business rescue practitioners have suspended all airline operations after efforts by the Treasury and the department of public enterprises failed to raise sufficient loan funding from commercial banks to restart operations.
This means SAA will complete repatriation flights that have already been scheduled but will not schedule any further flights. All operations will be placed under “care and maintenance” with only essential safety and maintenance work undertaken...