Government admits South Africa Airways is beyond ‘repair’
25 April 2018
The ANC has allowed SAA to be so badly managed and with considerable malfeasance apparent that SAA is now in debt in the amount of R9,2 billion. It is acknowledged that there is no possibility that SAA will ever be able to trade its way out of debt.
The Deputy Minister of Finance, Mondli Gungubele, told parliament today that, over and above the R10,0 billion already paid to SAA in 2018 as well as the existing R 9,2 billion currently owed to lenders, SAA would require an additional R 12,0 billion being:
- R 5,0 billion in 2018/19
- R 5,0 billion in 2019/20