The Department of Public Enterprises (DPE) welcomed the outcome of the creditors’ vote on the proposed business rescue plan for State-owned South African Airways (SAA). The financially beleaguered national flag carrier is under business rescue. In the vote on Tuesday, 86% of the creditors voted in favour of the plan. “The DPE believes that the favourable vote is a much better outcome for creditors and SAA employees than liquidation, and the government remains confident that the implementation of the business rescue plan will balance the rights and interests of all parties,” it affirmed.
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