update (09 December 2019): South African Airways is officially in business rescue. The notice of commencement of business rescue proceedings was filed with the Companies and Intellectual Property Commission (CIPC) on 05 December 2019, as per Chapter 6 of the Companies Act 2008 (Act 71 of 2008). The CIPC has processed the appointment of the business rescue practitioner, Mr Les Matuson from Matuson Associates in South African Airways' voluntary business rescue process.
South Africa's flag carrier, South African Airways, has adopted a resolution to place the company into a state-approved business rescue at the earliest opportunity in order to put the company on a sustainable footing and save jobs. The business rescue process will be directed by an independent practitioner.
According to a statement by South African Airways, the airline will endeavour to operate a new provisional timetable and will publish details shortly. Services operated by Mango, a subsidiary of South African Airways, will continue as usual and as scheduled. We'll keep you posted!
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