WATCH: Government tries to secure R2bn in funding for struggling SAA
File photo: REUTERS/Sumaya Hisham.
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JOHANNESBURG – South Africa’s Public Enterprises Ministry said on Sunday it was talking with the Treasury to raise funds to rescue South African Airways (SAA), following a meeting with business rescue specialists at the weekend.
The airline is one of several state entities, including power company Eskom, struggling with debt after nearly a decade of mismanagement.
Their woes are seen as the single greatest threat to Africa’s most industrialised economy and have been largely responsible for bringing South Africa’s credit rating to the brink of junk.
Source: iol.co.za
