Editorials
2 minute read
6 May 2021
9:55 am

South Africa’s SOE spend in a fantastical realm

Editorials

SAA was removed from business rescue this week after a receivership process which itself cost many millions more.

Sterling, Virginia, USA - October 5, 2011: South African Airways A340 taking off from Washington Dulles International Airport. Picture: iStock

For an organisation which proclaims that it is committed to a “better life for all”, the ANC has an odd set of priorities when it comes to spending public money as a government. While the Treasury was this week expressing the concern that the R4.3 billion allocated for the Covid-19 vaccination programme might not be enough, at the same time came the announcement that R1.7 billion had, somehow, been found for yet another bailout for South African Airways (SAA). An additional amount of R819 million will go to SAA subsidiary Mango and the airline’s other subsidiary, Air Chefs, will get...