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JOHANNESBURG, Dec 20 (Reuters) – There’s a cheap probability that South African Airways (SAA) will be saved, a workforce of turnaround specialists appointed to attempt to pull the state-run provider again from the brink of collapse mentioned on Friday.
Les Matuson, the enterprise rescue practitioner charged with assessing whether or not there was any probability of rescuing the state-run provider and its 10,000 associated jobs, and his workforce argued that rescuing SAA wbecause the preferable choice.
“(We) … are of the idea that the enterprise rescue course of will obtain a greater final result for all stakeholders than a direct liquidation,” the assertion mentioned.
In occasion of liquidation of SAA, proceeds would all go to preferent collectors, leaving nothing for concurrent collectors, they mentioned, giving an argument in opposition to it.
Earlier this month the federal government put SAA into enterprise rescue — a type of chapter safety the place a specialist…