South African Airways’s (SAA) board of directors have outlined a plan to place the company into business rescue at the earliest opportunity. The SAA board of directors and the executive committee have been in consultations with the shareholder, the Department of Public Enterprises (DPE), in an effort to find a solution to our company’s well-documented financial challenges. The considered and unanimous conclusion has been to place the company into business rescue in order to create a better return for the company’s creditors and shareholders, than would result from any other available solution. Furthermore, the company is seeking to minimise the

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