No assurance of funding yet so SAA creditors set to meet on Friday – Opportunities for youth

A rescue plan for the airline was accepted by creditors in mid-July.

Creditors and other parties with voting interests in South African Airways will convene for an online meeting on Friday at 11:00, according to a notice seen by Fin24.

The aim of the meeting is to engage with affected persons on a proposed way forward “taking into account all relevant factors”, the rescue practitioners indicated last week.

A rescue plan for the embattled flag carrier was accepted by creditors in mid-July. Since then, the Department of Public Enterprises, the shareholder representative of the state-owned airline, has been trying to “mobilise” about R10.3 billion to fund severance packages (about R2.2 billion) and working capital to get the airline operational again (about R2 billion), amongst other costs.

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