South African Airways (SAA) board member, Martin Kingston has outlined the implications of the national carrier being placed under business rescue, saying the workforce will remain employed.
Les Matuson has been appointed as business rescue practitioner in SAA’s voluntary business rescue process.
It has also been granted a R4 billion lifeline from the government and banks to launch the rescue plan.
The airline, which has not made a profit since 2011, endured a crippling strike last month over a wage dispute.
Kingston says he believes SAA will have to be restructured to help it generate revenue.
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