in Business & Finance

SAA creditors give extension for rescue plan

Posted 24 July 2020 · Add Comment

Bloomburg has reported that creditors of South African Airways have given the government more time to find the money to fund a rescue of the bankrupt state-owned airline.



It said that at a meeting convened by the airline’s administrators, creditors voted to extend the deadline to July 27 from an initial deadline of July 22.

If the money is not guaranteed by then, another creditors meeting will be held on July 30 to decide the way forward.

The administrators have previously said the airline could be liquidated.
 

Other Stories
Advertisement
Latest News

El-Houry: CEO with a license to grow

Hassan El-Houry, head of Kuwait-based National Aviation Services (NAS), wants to make up for lost time and resume the growth story of this privately owned airport services group. Mark Pilling met him.

Thales elevates the inflight entertainment experience with AVANT Up

AVANT Up is Thales’s latest evolution of industry leading inflight entertainment (IFE) solutions.

Moment provides wireless IFE solution aboard Air Cairo fleet

Moment has entered a partnership with Air Cairo. The airline’s fleet will be equipped with the Flymingo box, Moment’s Wireless In-Flight Entertainment system, to elevate passenger experience and contribute to enhanced comfort in the

Ethiopian starts operating flights with fully vaccinated crew

Ethiopian Airlines Group has started operating flights with fully vaccinated crew against COVID-19 to keep travellers safe in light of the pandemic.

Tunisia beaming with boosted radar coverage

The installation of a new monopulse secondary surveillance radar (MSSR) at Akouda, near Sousse, represents a significant enhancement of radar coverage over and around Tunisia. Alan Dron reports.

Delta Air Lines and Kenya Airways boost connectivity

Delta Air Lines and Kenya Airways have expanded their codeshare agreement, increasing the choice of destinations offered by Delta in Africa and extending Kenya Airways’ reach in North America via the U.S. gateway of New York-JFK.

Aviation Africa 2021 SKOC
See us at
Aviation MENA 2022DAS21_BTAviation Africa 2021 BTOCWDS BT1202090322