SAA rescue stalls as state must still offer letter of guarantee

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

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