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South African Airways to go under care and maintenance until funding found

JOHANNESBURG, Sept 29 (Reuters) - Struggling state-owned airline South African Airways will be put under “care and maintenance” until funding discussions are completed, the airline’s administrators said on Tuesday.

A company’s assets can be put under care and maintenance in order to keep them in good condition when they are not being used.

The administrators added in a notice to affected parties that certain funders were willing to provide a portion of the funds for the airline’s restructuring plan and that they were engaging with the government on the remaining funding needed.

Reporting by Alexander Winning Editing by Tim Cocks

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