February 28, 2020 / 9:45 AM / a month ago

SAA business rescue plan delayed until end-March - statement

JOHANNESBURG, Feb 28 (Reuters) - Specialists appointed to oversee efforts to rescue embattled South African Airways (SAA) have received a one-month extension until the end of March to publish a business rescue plan for the state-owned airline, they said on Friday.

SAA entered a form of bankruptcy protection in December, with administrators Les Matuson and Siviwe Dongwana taking over the management of the cash-strapped company, which hasn’t made a profit since 2011. (Reporting by Alexander Winning Editing by Joe Bavier)

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