Government tries to secure R2bn in funding for struggling SAA | IOL Business Report

JOHANNESBURG - South Africa’s Public Enterprises Ministry said on Sunday it was talking with the Treasury to raise funds to rescue South African Airways , 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.

busrep Of course they will bail them out. Did pravingordhan think we were fooled by the 'Sunday deadline' rubbish. Pure incompetence is the reason for the bailout, nothing else. We are a failed state and this is proof positive. CyrilRamaphosa is offered new routes but ignores them

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Unions call for accountability, want the entire SAA board to resign - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Numsa and the South African Cabin Crew Association have called for the immediate resignation of the entire South African Airways Board. And Pravin. This people must be fired. Not resigning. south Africans must take responsibility for their actions by stop blaming some Foreign nationals.embezzlemt n corruption are destroying e c`try,copy from EthiopiaAirWays.its not a crime coping something good.
Source: SABC News Online - 🏆 32. / 51 Read more »