South Africa: Public Enterprise On Implementing SAA Business Rescue Plan

press release

Now that all the conditions for the implementation of South African Airways' Business Rescue Plan were met last week, the Department of Public Enterprises (DPE) and stakeholders have been working around the clock to bring the process closer to finalisation.

To complete the process, the DPE is overseeing four phases. They are: The restructuring of the airline - including the implementation of Voluntary Severance Packages to employees; the appointment of non-executive directors and new management team; the selection and appointment of Transaction Advisors; and the formation of a customer-centric airline designed to be lean, technology capable, digitally modernised and agile to service all market segments.

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