SAA business rescue plan wants R10bn from govt

Late on Tuesday night, the embattled national airline’s business rescue practitioners filed their plan to save the airline – at a cost of more than R10 billion.

Government will have to find the money to cover employee severance packages as well as pay back creditors who kept the airline afloat after it went into business rescue in December last year, News24 reports.

The plan for restructuring the airline will still see government having to find an equity partner to cover the costs, or come up with the money itself.

According to the plan, not much will change in terms of the routes SAA has been flying up to the business rescue coming into effect.

This is a developing story.

For more news your way, download The Citizen’s app for iOS and Android.