CAPE TOWN – National Treasury said on Friday there was “no further action” planned to bail out struggling South African Airways (SAA) except to settle the guaranteed debt as attempts to revive the airline hangs on a knife-edge.
The South African government wants creditors to back a restructuring plan for SAA but did not allocate new bailouts for the loss-making state airline in an emergency budget last week.
In its strongest statement yet that it doesn’t plan on giving SAA more bailouts, the National Treasury told lawmakers they would not provide any new money to the airline as they were “insolvent” and turnaround plans had not been finalised yet.
More Stories
Arts Project Aimed At Preserving South African Culture
Ten Struggles Domestic Workers Face
Godongwana Harassment Claims Set To Be Discussed By ANC Integrity Commission
Eskom Cuts Illegal Connections In Cape Town
Mabuyane Rewards Loyalists
National Lotteries Commissioner Mampane Resigns
Solid Improvement In SA Business Debt Conditions in Q1 – Experian Data
Joburg Film Festival To Return In 2023
Amcu Marks 10th anniversary Of Marikana Massacre
Supreme Court Of Appeal Reserves Judgment In Zuma Matter
ANCWL Calls For Swift Action On Claims Against Godongwana
No Need To Panic Over Fourth Monkeypox Case – Dhlomo