‘If there is no funding, we believe that the best option is a structured wind down, which is a better option than liquidation,’ the BRPs said.
The National Union of Metal Workers of SA and the SA Cabin Crew Association, which represent most SAA workers, had previously filed an application to halt the proposed retrenchment. “It is the considered view of the business rescue practitioners that there is still a reasonable prospect of rescuing SAA, subject to the receipt of unequivocal commitment thereto and the requisite funding,” they said.
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