South African Airways could exit administration this month, govt says


CAPE TOWN, Feb 3 (Reuters) - South African Airways may exit administration at the end of the month and a decision on an equity partner for it could be made by the end of March, South Africa's Department of Public Enterprises (DPE) said on Wednesday.

The DPE, the ministry responsible for SAA, said in a presentation that the remainder of a 10.5 billion rand ($702.4 million) bailout could flow to the airline now that an appropriation act had been passed.

A plan for SAA to resume operations had not yet been agreed, it said.

($1 = 14.9495 rand)

(Reporting by Wendell Roelf; writing by Alexander Winning; editing by Jason Neely)

((; +27 10 346 1076))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.