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Bloomberg
South African Airways’ bankruptcy administrators submitted a business rescue plan to the government, creditors and labour unions and will begin discussions on it next week.
The so-called Business Rescue Practitioners have asked for an extension to their contract until June 8 to complete the work, they said.
The airline has been unprofitable since 2011 and has been surviving on government bailouts. While the rescue team has been informed that the National Treasury will not provide further funds, Pravin Gordhan, the country’s public enterprises minister, has insisted that the airline continue to exist in some form.