Smaller creditors not happy as vote on SAA rescue deal looms
Even if all creditors vote in favour of a revised business rescue plan it is still unclear where the funding for its implementation will come from
12 July 2020 - 00:00
All eyes in the aviation sector will be on Tuesday's crucial meeting where creditors will decide the fate of stricken state-owned airline SAA.
A 75% vote in favour of the business rescue plan will be enough to pass it. Bigger creditors, such as the banks, hold the majority of the voting rights and if they all vote in favour of the plan, it should pass...
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