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Gordhan and Mboweni commit to obtain funding for SAA

16 July 2020 2:46 PM
Tags:
Pravin Gordhan
Several South African Airways
Tito Mbooweni
south african airlines
Business Rescue Plan

They provided a letter to the business rescue practitioners on Wednesday evening stating that they will find funding.

Public Enterprises Pravin Gordhan and his finance counterpart Tito Mboweni have provided a letter to the business rescue practitioners on Wednesday evening stating that they will find funding for the South African Airways (SAA).

The Department of Public Enterprises said in a statement this will create a viable, sustainable and competitive national airline for the longer term.

Eyewitness News reporter Bonga Dlulani discusses with Mandy Weiner on The Midday Report what the letter given to the business rescue plan really means and where the government will get the R10.1 billion required to stabilise the airline.

SAA has been depending on government bailout for years and years so that money is something they need to find

Bonga Dlulani, EWN Reporter

RELATED: It’s official! We're getting a brand-new, taxpayer funded (R16 billion) airline

Dlulani says the hardest decision the SAA will have is deciding on severance packages of 2,700 retrenched employees which meet the minimum requirements of labour relations and the incentives for those who earn less.

They are looking for equity partners and shareholders who can come in and say: 'We will give you some of the money to pay those people you want to hire.'

Bonga Dlulani, EWN Reporter

16 July 2020 2:46 PM
Tags:
Pravin Gordhan
Several South African Airways
Tito Mbooweni
south african airlines
Business Rescue Plan

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