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Business: SAA creditors must meet the unmet guarantee condition on Friday

The commercial enterprise rescue practitioners of South African Airways have called a creditors’ meeting for Friday 24 July, on the foundation that a condition set in the enterprise rescue sketch has no longer been met. The unmet condition relates to government having to grant confirmation excellent to the Development Bank of Southern Africa (DBSA) as […]

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Cabinet supports SAA restructuring plan, okays equity sale

South African government supports restructuring proposals for SAA that include job cuts as well as the introduction of equity partners in the long troubled airline. In a statement released on Friday, Cabinet said it was in support of “… the concerted effort to mobilise funding from various sources”, including the introduction of potential equity partners. […]