“A vote against the plan would result in the protracted and costly liquidation of the airline. As the shareholder on behalf of government, we are of the view that business rescue is a viable alternative to liquidation – one which supports job preservation and the ability to bring the airline back from the brink to a position where some employees, labour unions and creditors can continue to contribute to the South African economy and its integration into the global economy.
“They will only receive payment once the final liquidation and distribution account has been approved, which can take up to 24 months.”
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