South African Govt to 'reprioritise funds' for SAA restructuring, airline 'will not be liquidated'

South Africa's Department of Public Enterprises (DPE) confirmed (20-Sep-2020) the government will "reprioritise funds to finalise the restructuring of South African Airways (SAA) and the implementation of the airline's business rescue plan". An announcement will be made in the Adjustments Appropriation Bill, which will be introduced in Parliament "soon". The DPE stated: "The national carrier will not be liquidated". The department added: "The restructuring process should be brought closer to finalisation in the next few weeks", meaning lending institutions will be requested to finance SAA's restructuring process and honour commitments for voluntary severance packages and retrenchments. The DPE will continue to assess 20 unsolicited expressions of interests from private sector funders, private equity investors and partners for the future restructured SAA. [more - original PR]