SAA may fly again, but its new wings will cost around R10-billion. This number does not include its debt of R16,4-billion that still has to be paid.
The details are contained in the much-anticipated Business Rescue Plan, published on Tuesday night. The money will be used to pay off creditors and employee severance packages.
In terms of the plan, local flights could resume soon, with full domestic service by January next year.
Regional and International scheduled will be introduced, depending on demand. This means that not all employees will be retrenched.
A-thousand staff members are still required, and that may increase to almost 3,000 at a later stage. Government is welcoming the plan saying the aviation industry needs the services of a national carrier.
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Source: eNCA
