SA’s struggling national airline SAA on Friday exited a local form of bankruptcy protection called business rescue after roughly 17 months.
That meant they had “effectively discharged the business rescue and handed over the operations of SAA back to its board and executive team”, adding SAA was now solvent.
A handful 😃 ‘The airline is one of a handful of SA state companies that depend on government bailouts, placing the budget under huge strain at a time of rapidly rising debt.’
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“Solvent”. 🤣
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