Les Matuson of Matuson Associates of Johannesburg has been named the business rescue practitioner in charge of trying to save South African Airways.
The airline was placed in voluntary business rescue yesterday by the minister of public enterprise, Pravin Gordhan.
SAA’s board of directors announced today that the notice of commencement of business rescue proceedings had been filed with the Companies and Intellectual Property Commission on Thursday.
“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,” the statement said.
For more information about the implications of business rescue, read here.