Business rescue practitioner Les Matuson has begun a race against time to restructure SAA before the cash runs out for it to continue operating.
Because SAA is unable to generate enough revenue to pay for operations, the R4bn in precommencement funding from the Treasury and the banks will have to fund the gap until the airline breaks even. Even with the tools of business rescue at his disposal, this is a tall order.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.
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