Another bailout for SAA, of R21bn, is not final yet, says government

Another bailout for SAA, of R21bn, is not final yet, says government

2020-06-01 05:40:00 PM

Another bailout for SAA, of R21bn, is not final yet, says government

The department of public enterprises has dismissed reports that government is planning to approve the draft rescue plan to hand SAA another bailout.

Earlier on Monday, the DA said the government wasplanning to approve the draft rescue plan to hand SAA another bailout, this time of R21 billion.However, the department has dismissed this, saying in a statement that government, stakeholders, and employees have not discussed the plan yet, nor have decisions been made from some of the proposals by the rescue practitioners.

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“President Cyril Ramaphosa on Sunday told members of the South African National Editor’s Forum that he saw a good future for the airline, which enjoy support right across the continent.“The government has embraced the restructuring process as part of a new, dynamic, and financially viable airline that will serve South Africa’s economic and strategic interests,” the department said.

They will be reviewing the plan, explore various funding options, and communicate a decision in due course. Read more: The Citizen News »

Not sure how tax payers take it from here. Do we just pay more taxes? Do we trust more in SAA management. Do we do what protestors do when not listened to by the clowns running SAA and start burning planes where they are standing? HOW do we close this money bleeding ANC artery? South Africans are suffering with high unemployment, hunger, emotional distress, fears about their future and finances. Why is an SOE a priority when we could use that money to build a better future for us all. The government is clueless. CyrilRamaphosa PresidencyZA

Suddenly they have money to splash around. And the Tax Payers will have to fork out. Not the Goverment. Then somebody will mismanage that funds again. This madness MYANC will not accept that they cannot run anything including a Spaza shop PresidencyZA CyrilRamaphosa jsteenhuisen Natasha9Mazzone Our_DA

This is ridiculous. The SAA is a blackhole, a vortex of nothingness. The government is stupid. They should all retire. They are too old to run this country. Is nobody in government opposing this ,?,? This is our tax money. vbantjes Money laundering = continuous bailouts of SAA What is it used for? To ensure that Pharao's criminal elite cabal will remain loyal.

How long is an ANC piece of string.... Literally the worst time for a bailout with very limited flights allowed = no possible form of income😅🤣 aii but the ANC have no chill I can't believe that money is just being wasted on this lot🤬🤬🤬🤬🤬🤬🤬🤬🤬🤬🤬🤬 JackLon09169906 Of course it is. The only remaining question is how much more than R21bn they are prepared to piss away.

That money will last about three months and SAA will be back to where it is currently. We need change, different system, different leadership, new staff, 2 month POC to be complete and then you invest cash into it.. but I guess we live is SA and we do things in reverse.. Ai gwa Tswana it is expensive this airline Yoh

😡😡😡😡😡 That's right, it'll be more like R42bn?!! Another waste of tax payers's money is on card . I predict a massive increase on fuel price to keep this bullshit airline on the sky Typical abuse of our taxes. Bowing to the useless unions Don't know what we expected, same old same old, the looting won't stop..., not in our lifetime

Everyone can die of hunger, as long as this thing called SAA gets billions of rands from tax payers every 2nd month. The ANC morons are eyeing peoples pensions to bail out their corruption! They steal and hide money to an extent of collapsing the entire economy, nd ppl must pay! They need SOEs to keep going cause they need the government pension funds to use as they want...

What on earth Loads of cash floating around at the moment!!! Still waiting for a looting / state capture arrest!!!!!!! Instilling faith in South Africa . . Confidence brings investments 😂😂😂😂 Wow didn't jamndas say he not giving any more bailouts for the carrier or he was just playing politics with Tin fish Minister while they know very well BRP are looting all those funds

This happens government must expect a full blown tax revolt

Government has not yet discussed SAA rescue plan: public enterprises“Government has not discussed the plan yet and no decisions have been taken on some of the proposals it contains,” the department said in a statement. Government has not discussed the plan yet? i SUPPOSE THEY ARE WAITING TO RAID THE GOVERNMENT PENSION FUND. Business Rescue was quite a convoluted way for the SA Government to retrench a few employees

No decisions taken on SAA draft rescue plan, says DPEThere were reports earlier that government has agreed to fund a restructuring of the state-owned airline if a business rescue plan is adopted.

Government has not yet discussed SAA rescue plan: public enterprises“Government has not discussed the plan yet and no decisions have been taken on some of the proposals it contains,” the department said in a statement. Government has not discussed the plan yet? i SUPPOSE THEY ARE WAITING TO RAID THE GOVERNMENT PENSION FUND. Business Rescue was quite a convoluted way for the SA Government to retrench a few employees

No decisions taken on SAA draft rescue plan, says DPEThere were reports earlier that government has agreed to fund a restructuring of the state-owned airline if a business rescue plan is adopted.

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