The business rescue practitioners of SAA confirmed on Friday that a letter was received from the government indicating that the cabinet would grant the airline a R10bn cash funding.
The business rescue practitioners made it known on Thursday that the long awaited funding from the government had not being met.
This persuaded the practitioners to call for a creditors’ meeting on Friday to review the business rescue plan.
A practitioners, Siviwe Dongwana, informed creditors on Friday letter of funding from the government was received.
He indicated that it was cosigned by the directors-general of the department of public enterprises and the National Treasury.
National Union of Metalworkers of SA (Numsa) spokesperson Phakamile Hlubi-Majola after the creditor’s meeting said the union had “been here before” with government assuring funding.
She said even with government assurances, the government had missed the deadline to provide funding for the business rescue plan on Thursday.
“This promise will mean something when there’s money in the bank,” said Hlubi-Majola.
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