SAA administrators extend deadline for workers to agree to severance packages

SAfm — South African Airways' administrators extended a deadline for workers to agree to severance packages- this comes after, the minister for Public Enterprises, Pravin Gordhan indicated that he needs time to explore funding options for the bankrupt state-owned carrier. The business-rescue team led by Les Matuson and Siviwe Dongwana are trying to persuade labour groups to sign off on retrenchment deals as a possible alternative to liquidation proceedings, which could see the near 5,000-strong workforce without employment. Meanwhile, Justine Hoppe, Director at Mazars Recovery and Restructuring says being denied the additional R10 billion in funding by the Department of Public Enterprises, made it hard for the SAA's business rescue process to succeed. And she now joins us on the line....