March 20, 2020 / 11:14 AM / 12 days ago

SAA administrators ask for extension for rescue plan until May 29

JOHANNESBURG, March 20 (Reuters) - Specialists appointed to try to rescue South African Airways (SAA) asked creditors on Friday for a two-month extension for a plan for the struggling state-owned airline because of the coronavirus outbreak.

Specialists Les Matuson and Siviwe Dongwana asked creditors in a letter seen by Reuters to approve an extension for the publication of the plan until May 29. They added that coronavirus would accentuate the need for urgent cost-cutting measures, such as possible layoffs. (Reporting by Alexander Winning; editing by Jason Neely)

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