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Government to hand over control of SAA to restructuring specialist | IOL Business Report

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Government to hand over control of SAA to restructuring specialist

JOHANNESBURG - The government will cede control of South African Airways to a restructuring specialist in a last-ditch attempt to save the cash-strapped business from collapse.

As part of a rescue plan started on Thursday, the government will hand the running of SAA to an as-yet unidentified specialist to make the sort of painful cuts that would be difficult for politicians to push through. SAA has been granted a R4 billion lifeline from the government and banks to launch the rescue plan, but that cash could only last for months, analysts say.

 

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Don't fly SAA!!!!! Let it die!

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