The Public Enterprises Department has said they are working around the clock to make finalisation on the implementation of SAA’s business rescue plan.
This is after the conditions for the plan were met last week.
“We are now doing the phase of implementing the business rescue plan, it is, of course, the transition phase.”
“In terms of the labour restructuring, it is important to note that we have had to look at how we can retain some of the employees at the entity and we have considered the retention of about 1,000 employees,” said department’s Acting Deputy Director-General Nonny Mashika
About last month, the majority of SAA creditors voted in favour of a R2.2-billion plan.
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