When SAA came out of business rescue in April last year, R3.5 billion was still needed to fully implement its business rescue plan. The DPE then obtained a special allocation from the SAA money for the subsidiaries, leaving a gap in what still had to be settled in terms of the business rescue plan. "The amount of R3.5 billion is an indicative obligation to cover concurrent creditors, lessors, and un-flown ticket liabilities as per the approved business rescue plan. "The actual quantum of what is to be remitted from the National Treasury is being worked out by government officials." The DPE indicated to Parliament earlier this week that SAA will face liquidation if the Takatso deal does not work out.

Source: News 24 September 22, 2022 20:52 UTC