SAA Pilots Association welcomes rescue plan
The SAA Pilots Association has welcomed a last minute move to save the struggling airline from liquidation - describing it as a possible turning point.
The association was reacting to a majority vote by creditors on Tuesday - approving the carrier's business rescue plan.
Under the agreement - commercial banks would be paid R16,4 billion owed to them by the airline.
But 2 700 will be offered retrenchment packages through the restructuring process.
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The association's Grant Back says given the circumstances it's the best possible scenario.
He says he hopes the airline's interim leadership will usher in an era of accountability.
"We have repeatedly called for an experienced leadership team to ensure the future prosperity of the national carrier. So this is a positive step for the company.
"We believe that this could be the beginning of a new era at the airline and we will work together with all willing stakeholders to ensure the success of SAA," says Back.
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