SAA denied government funding Posted by Anita Froneman on 15 April 2020 South African Airways could be in deep trouble, as the airline was denied a funding request of R10 billion. The Department of Public Enterprises (DPE) said in a letter that government cannot support SAA’s request for further funding or provide any future funding to sustain the business rescue process. Government will also not provide any further guarantees to SAA to facilitate borrowing, the letter stated. Credit: Supplied ‘SAA is hardly functioning at the moment other than flying on rescue missions. They have no revenue coming in. So, the only way they can survive is by pouring more billions of rands into them which is like pouring money into a hole,’ Economist and director of Econometrix, Azar Jammine, told Fin24. Member of Parliament Minister Pravin Gordhan, urged the airline’s business rescue practitioners to consider their options within their ‘available resources.’ Image: Getaway gallery Related Posts Cape Town’s sustainability: Leading the way in environmental initiatives 1 June 2023 As National Environmental Month commences in South Africa, Cape Town stands proudly at the forefront... read more Kapama to host Safari Guide of the Year Awards 2023 1 June 2023 Kapama Private Game Reserve near Hoedspruit will host this year’s Safari Guide of the Year... read more Blood Lions relaunches for public viewing on YouTube 1 June 2023 Award-winning documentary feature film Blood Lions has been relaunched on YouTube for public viewing, creating... read more PREV ARTICLE NEXT ARTICLE
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