South African Government reinforces call for stakeholders to back SAA rescue plan

South Africa's Department of Public Enterprises restated (13-Jul-2020) its call for South African Airways' (SAA) creditors, unions and other stakeholders to vote in favour of a business rescue plan for the airline at the creditors' meeting on 14-Jul-2020. The department stated the rescue plan "is the only realistic pathway to the restructure the airline and for a new national carrier to emerge from the business rescue process". Implementation requires 75% of creditors to vote in favour of the plan. If creditors vote not to support the plan, SAA will face liquidation. [more - original PR]