South Africa’s SAA faces wind-down or liquidation, rescue team says

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FILE PHOTO: A South African Airways (SAA) plane taxis after landing at O.R. Tambo International Airport in Johannesburg, South Africa, January 18, 2020. Picture taken January 18, 2020. REUTERS/Rogan Ward

JOHANNESBURG (Reuters) – Specialists appointed to try to save state-owned South African Airways (SAA) said on Thursday that they had no further funds for rescue efforts and that the two remaining options were a wind-down process or placing the company into liquidation.

The wind-down process is dependent on employees accepting the termination of their employment by mutual consent within a given time frame, the specialists said in a notice to affected parties seen by Reuters.

Reporting by Alexander Winning, editing by Mfuneko Toyana

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