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SAA receives remainder of R10.5-billion bailout
BusinessTech3 February 2021
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The Department of Public Enterprises says that South African Airways (SAA) could exit administration at the end of March on the back of fresh funding and a possible equity partner.
In a presentation parliament on Wednesday (3 February), the department said that the signing of the recent Appropriations Act will allow the remainder of a R10.5 billion bailout to flow to the company,
It added that a decision on an equity partner could be made by the end of March. The Department said that a plan for SAA to resume operations had not yet been agreed.
SAA rescue on track as it gets remainder of R10.5 billion bailout – but no plans to start flying yet
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The Department of Public Enterprises says that South African Airways (SAA) could exit administration at the end of March on the back of fresh funding and a possible equity partner.
In a presentation parliament on Wednesday (3 February), the department said that the signing of the recent Appropriations Act will allow the remainder of a R10.5 billion bailout to flow to the company,
It added that a decision on an equity partner could be made by the end of March. The Department said that a plan for SAA to resume operations had not yet been agreed.