JOHANNESBURG, April 30 (Reuters) – South Africa’s struggling national airline South African Airways has exited a local form of bankruptcy protection called business rescue, its administrators said in a statement on Friday.
The administrators “have effectively discharged the business rescue and handed over the operations of SAA back to its board and executive team with immediate affect,” their statement read. (Reporting by Alexander Winning Editing by Promit Mukherjee)
(c) Copyright Thomson Reuters 2021. Click For Restrictions – https://agency.reuters.com/en/copyright.html
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.