PREMIUM!

Face it, SA Airways is beyond rescue

Editorials 1 month ago

SAA has been in business rescue since December.


19 Sep 2020
PREMIUM!
Face it, SA Airways is beyond rescue

Planes at OR Tambo international airport in Kempton Park, 20 August 2020. Picture: Neil McCartney

Another day, another proposed bailout for South African Airways (SAA). It was yesterday revealed, according to a rescue plan compiled by administrators and backed by government and labour groups, more than R10 billion needs to be raised to revive the embattled airline. Business rescue practitioner Siviwe Dongwana told a creditors meeting the communication from government gives a “very clear Cabinet commitment” to provide the needed money. While the absence of the urgent funding puts SAA in line for liquidation once again, the department of public enterprises has confirmed that government will reprioritise funds to finalise the restructuring of SAA. They...

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