Government’s preliminary response to the publication of SAA Business Rescue Plan
16 June 2020
Government, as the sole shareholder of SAA, supports the business rescue plan where it results in a viable, sustainable, competitive airline that provides integrated domestic, regional and international flight services.
Government remains committed to support a competitive, viable and sustainable national airline. This is to resolve the untenable situation of the current South African Airways (SAA), specifically for its employees and its creditors, as well as to support important economic objectives.
The aviation industry in South Africa requires the capabilities of a SAA that is reconstituted, restructured and reinvigorated, without the legacy burdens, including corruption, poor leadership and unsustainable costs, which have beset SAA’s past.
SAA was placed in business rescue on 6 December 2019. Effectively SAA has been under the complete direction and control of the Business Rescue Practitioners (BRPS).