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.
 

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