Public Enterprises Director-General Kgathatso Thaludi said that government had committed to providing billions of rands to restructure SAA and now needed to establish a mechanism through which to channel the funds.
JOHANNESBURG – Public Enterprises Director-General Kgathatso Thaludi said that government had committed to providing billions of rands to restructure SAA and now needed to establish a mechanism through which to channel the funds.
Public Enterprises Minister Pravin Gordhan has told Bloomberg that government will in the coming week sort out where to find the more than R10 billion needed for the start of the ‘new’ SAA.
On Friday, the department said that money will be reprioritised in Finance Minister Tito Mboweni’s adjustment budget next month and the hole will in the meantime be plugged with loans.
The DG said that he would not get into the “nitty gritty’s” of exactly where the money will come from but an announcement will be made by the Finance Minister at the appropriate time.
He said that government would not allow SAA to fail.
“The important message that we need to get across is that we will not allow SAA to be liquidated, that SAA shall be a stronger airline going forward to ensure that it performs the role of supporting the economy.”
