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Plagued by debt and years of mismanagement, state-owned South African Airways (SAA) has been placed into business rescue - South Africa’s bankruptcy protection process - in a last-ditch attempt to save the national carrier.
South Africa’s business rescue process, which will shield SAA from the demands of its creditors while an independent advisor takes over, borrows from U.S., UK, Canadian and Australian law.
This video tracks the ins and outs of what led to near collapse of this airline