JOHANNESBURG, Nov 21 (Reuters) - A South African union filed a case on Thursday asking a court to subject the distressed state-owned airline SAA to a business rescue, with the aim of restoring it to profitability.
Solidarity, which mostly represents white, Afrikaans-speaking employees, said it would “mean that the court can appoint a business rescue practitioner with comprehensive powers to rescue the airline.”
A crippling six-day strike in the past week has pushed South African airways to the brink of financial collapse. . Such a rescue would hand over control to a business rescue practitioner who then tries to restore the company in order to avoid liquidation. (Reporting by Tim Cocks; Editing by Toby Chopra)