June 24, 2020 / 9:20 AM / 18 days ago

South African government urges creditors to support SAA rescue plan

JOHANNESBURG, June 24 (Reuters) - South Africa’s public enterprises ministry on Wednesday urged creditors to vote in support of a rescue plan for cash-strapped South African Airways (SAA).

Creditors are due to vote on the plan, which was published by the state-owned airline’s administrators last week, on Thursday.

The Department of Public Enterprises (DPE) said in a statement: “DPE believes the ​approval of the business rescue plan ​would help creditors and employees to be co-creators of a new airline.” (Reporting by Alexander Winning; editing by Olivia Kumwenda-Mtambo)

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