The Board of Directors of South African Airways (SAA) has announced that the notice of commencement of business rescue proceedings was filed with the Companies and Intellectual Property Commission (CIPC) on 5 December 2019, as per Chapter 6 of the Companies Act 2008 (Act 71 of 2008).
The company is officially in business rescue.
The CIPC has processed the appointment of the business rescue practitioner, Mr Les Matuson from Matuson Associates in South African Airways’ voluntary business rescue process.