South African Airways (SAA) has announced that it continue its efforts to save costs, despite a cash boost from the Development Bank of Southern Africa (DBSA).
The national carrier has cancelled and consolidated selected scheduled flights, where there is low demand
Earlier this week, the SAA business rescue practitioners secured a funding commitment of R3.5 billion from the bank.
The cash will be used to facilitate the development and publication of the Business Rescue Plan by the end of February for presentation to creditors.
Business Rescue Practitioners, who are currently taking care of the affairs of the airline, will continue to review all third party contracts with the entity, with the intention to cancel or renegotiate them.
SAA has also announced the cancellation and consolidation of selected scheduled flights where there is low demand.
Credit: Source link
