26 Jul 2020

SAA rescue stalls as state must still offer letter of guarantee

Gcina Ntsaluba

Share your Subscriber Article

You have 5 articles to share every month. Send this story to a friend!

A South African Airways (SAA) plane is towed at OR Tambo International Airport. Picture: Rogan Ward/Reuters

BUSINESS

The deadline set by SAA’s creditors for the completion of the airline’s business rescue plan has been extended to tomorrow, as one of the conditions was not met by July 22.

The outstanding condition relates to a signed guarantee confirmation letter from government to lenders, setting out the repayment of debt.

Support independent journalism

Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

Already a subscriber? Sign in

Next on City Press

Beer more popular than sodas in SA

22 May