Crucial vote over SAA business rescue plan postponed for three weeks

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This is after separate proposals calling for an adjournment by creditors and unions were successful on Thursday.

Private airline SA Airlink, which is owed around R500m by embattled state airline SAA, put forward a proposal, which was joined by other creditors, saying it hadn’t received adequate answers to questions posed about the business rescue plan.

In a separate proposal, the National Union of Metalworkers of SA , the South African Cabin Crew Association and the South African Airways Pilots Association , also called for an adjournment. The unions said an adjournment “will have no effect on the financial nor going concern status of SAA” and would also “allow creditors sufficient time to review and consider the amendments to the plan”.

 

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