Government refuses SAA business rescuers' request for R10bn

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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.

 

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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.

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