SAA administrators will not sell assets without involving govt: memorandum

Administrators at state-owned SAA will not sell assets for an interim period without involving the government, a memorandum signed by one of the administrators and the public enterprises ministry showed. The memorandum also said the administrators and the ministry had agreed that the objective of SAA’s bankruptcy protection process was to have a restructured SAA or a new company with no reliance on public finances. A public enterprises ministry spokesman confirmed the memorandum was an authentic document. SAA’s administrators, appointed in December to try to rescue the firm, have said previously that a wind-down or liquidation of the loss-making airline were likely outcomes.<br/>