29-09-2020 18:26 via uk.finance.yahoo.com

SAA administrators suspend all operations until funding found

Administrators in charge of South African Airways (SAA) said on Tuesday that they were suspending all operations and putting the struggling state-owned airline under "care and maintenance" until funding for a restructuring plan was found.SAA entered a local form of bankruptcy protection in December, after almost a decade of financial losses, and its longstanding woes have been exacerbated by the COVID-19 pandemic.The administrators published a restructuring plan in June, but the government is ye
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