BRPs has warned that SAA is running out of cash
South African Airways (SAA) is in need of money unfailingly by next week.
The airline’s business rescue practitioners have said since the onset of the rescue process, it is gradually running out of cash.
They said the money left to go on with operations have reduced drastically.
A total amount of R10.1 billion is what is needed to save the airline from running into bankruptcy. R2.2 nillion from the money will be used for severance packages.
The SAA practitioners have terminated about 33 of the 40 aircraft leases and are trying to finalise all the termination.
The termination of the left over aircraft leases should be finalised by the end of September.
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