Government refuses SAA business rescuers' request for R10bn

  • 📰 SowetanLIVE
  • ⏱ Reading Time:
  • 10 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 63%

Ireland News News

In a leaked letter addressed to the airline's business rescue practitioners, public enterprises minister Pravin Gordhan says the government will not provide any further funding to the business rescue process of SA's national airline.

“Further note government is unable to provide additional funding to sustain the business rescue process beyond the funding that has already been provided to the airline in the form of post commencement finance.”

The Covid-19 pandemic has “further stretched” resources in the government's efforts to mitigate its impact on people's health and on economic activity, said the minister.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Shut it down already. It's overstaffed, constantly in need of bailouts, and many stories of corruption.

They must just give me 36 months, will turn that shop around

nickhedley I doubt Pravin has any interest in a successful business rescue.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines