Further R7.7bn pivotal to SAA rescue
JOHANNESBURG – Loss-making state-owned airline business rescue practitioners require a financial commitment from government in order to resuscitate successfully, writes Siphelele Dludla
SAA BUSINESS rescue practitioners (BRPs) have argued that the stateowned airline cannot be salvaged without any commitment for further funding from the government.
Siviwe Dongwana told Parliament on Friday that the rescuers needed the government to commit at least R7.7 billion more for SAA to be successfully restructured. The government has declined to grant SAA any more funding after giving the airline R5.5bn, saying that the BRPs must come up with a rescue plan within allocated resources.
Source: iol.co.za