May 13, 2020 / 9:01 PM / 20 days ago

South African Airways rescue team will not sell assets without consulting govt - memorandum

JOHANNESBURG, May 13 (Reuters) - Administrators at state-owned South African Airways will not sell assets for an interim period without consulting with and involving the government, a memorandum signed by one of the administrators and the public enterprises ministry showed.

SAA’s administrators and the public enterprises ministry agreed the objective of SAA’s bankruptcy protection process was to have a restructured SAA or a new company with no reliance on the fiscus, the memorandum also showed. (Reporting by Alexander Winning Editing by Chris Reese)

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