JOHANNESBURG (Reuters) - South Africa’s Department of Public Enterprises (DPE) said on Friday that it was finalising funding for the restructuring of ailing state-owned airline South African Airways (SAA).
The DPE, the ministry responsible for SAA, said the government would reprioritise funds to finalise SAA’s restructuring and that an announcement about this would be made in an Adjustments Appropriation Bill that would be introduced to parliament soon.
Lenders will also be approached to finance the restructuring and severance packages, the DPE said, adding: “The national carrier will not be liquidated.”
Reporting by Alexander Winning; Editing by Promit Mukherjee
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