April 23, 2020 / 3:23 PM / a month ago

South Africa's SAA faces wind-down or liquidation, rescue team says

JOHANNESBURG, April 23 (Reuters) - Specialists appointed to try to save state-owned South African Airways (SAA) said on Thursday that they had no further funds for rescue efforts and that the two remaining options were a wind-down process or placing the company into liquidation.

The wind-down process is dependent on employees accepting the termination of their employment by mutual consent within a given time frame, the specialists said in a notice to affected parties seen by Reuters.

Reporting by Alexander Winning, editing by Mfuneko Toyana

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