South Africa Airways plane
PRETORIA, June 9 (NNN-AGENCIES) — Administrators at state-owned South African Airways (SAA) have asked creditors to delay the publication of a rescue plan for the cash-strapped airline until next week.
The rescue plan was due to be published on Monday but unions objected to it being published before they had held further talks with the government about it.
The airline has not made a profit since 2011 and the coronavirus pandemic has added to its financial woes.
Even so, the government and unions have been pushing for the airline to be salvaged.
A draft plan proposed bailouts and cutting the workforce and aircraft fleet roughly in half.
The administrators asked creditors to approve a delay in the publication of the rescue plan until June 15. — NNN-AGENCIES
