Will coronavirus put SAA in a terminal tailspin?
Business rescue practitioners have already announced the need to restructure SAA and retrench workers. But will fallout from the coronavirus see government pull the plug on the ailing airline?
SAA may just be at the centre of a perfect storm. Given existing financial woes and doubts over the airline’s status as a going concern, coupled with the impact of newly imposed travel bans by the government, the big question is whether it can survive the onslaught.
The FM understands that SAA and its business rescue practitioners, Les Matuson and Siviwe Dongwana, are in crisis meetings after the declaration of a national state of disaster by President Cyril Ramaphosa this week...