SA NOT COMMITTED TO SAA RESCUE PLAN FUNDING, MINISTER

The South African government has not committed to the funding requirements defined in the South African Airways (SAA) Business Rescue Plan (BRP), a cabinet minister has said. Answering an affidavit to a case filed by the Opposition Party Democratic Alliance (DA), Finance Minister Tito Mboweni said: “The announcement had committed the government to mobilize funds for South African Airways and not to provide them.” These include seeking money from strategic partners or private equity as

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Private Investors Interested in new SAA

South African Department of Public Enterprise (DPE) has announced that it has received unsolicited proposals from the private sector funder, private equity investors and private airline partners for a new airline that must emerge from the South African Airways (SAA) Business Rescue process. South African Airways has been operating on losses for more than a decade and was in December 2019 placed on Business Rescue. The airline has been surviving on bailouts from the government

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