Business rescue practitioner appointed for SAA
The board of South African Airways (SAA) has appointed the business rescue practitioner Les Matuson from Matuson Associates to head up the carrier’s voluntary business rescue process.
SAA spokesperson Tlali Tlali says the appointment of Matuson means the national carrier is officially under business rescue.
Listen to Tlali below:
The appointment comes in spite of trade unions Solidarity, the National Union of Metalworkers of South Africa (Numsa) and South African Cabin Crew Association (Sacca) giving the board until Friday to provide an undertaking that they would not play a role in this appointment.
Public Enterprises Minister Pravin Gordhan confirmed on Wednesday that SAA would be placed under business rescue with immediate effect.
This decision was taken by its board and is supported by the government.
The move comes a few days after the Department of Public Enterprises announced that the ailing airline would be going through a radical restructuring process which aims to ensure SAA's financial and operational sustainability.
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