Reuters reports SAA has exited a Business Rescue process after around 17 months, with administrators having approved a recovery plan.
The airline has been handed back to its board and executive team and is in the final stages of negotiations with a preferred equity partner, the carrier said.
It told Reuters: “A purchase and sale agreement should be concluded in the next few weeks. This will enable capital and much-needed technical and commercial expertise to be brought in to ensure a competitive flag carrier emerges.”
