SAA is to be positioned in enterprise rescue, it emerged on Wednesday evening.
In a letter to cupboard ministers and deputy ministers presidency director-general Cassius Lubisi knowledgeable the chief that President Cyril Ramaphosa had made the choice that the airline ought to enter enterprise rescue with a purpose to handle its “dire state of affairs”.
An official assertion is predicted in a while Wednesday.
Within the letter Lubisi states that enterprise rescue “is the one viable route open to the federal government to keep away from an uncontrolled implosion of the nationwide airline”.
“The voluntary enterprise rescue course of strategy will forestall liquidation functions by any of SAA’s collectors, which might land the airline in a fair worse place,” says Lubisi.