Hein Kaiser
7 minute read
11 Jun 2021
6:20 pm

Government employees, taxpayers still footing the bill for privatised SAA

Hein Kaiser

SAA's future is no longer their worry but taxpayers will still cover past debt, while takeover risks rest on government workers' pensions.

Picture: Thulani Mbele

Many South Africans breathed a sigh of relief on Friday morning, when it was announced that South African Airways (SAA) would henceforth be run by a private equity partner, but some have questioned whether SAA 2.0 is really all it's cracked up to be. The announcement left questions over who would be responsible for servicing the company's remaining mountains of debt, and where exactly the funding for the 51% takeover of the floundering airline would come from. ALSO READ: Black consortium takes 51% of SAA, government holds 49% It now appears that while taxpayers will not have to foot the...