Head Topics

Mixed signals on fate of SAA funding

  • 📰 SowetanLIVE
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

South Africa Headlines News

There's confusion about the government's commitment to SAA's business rescue plan after Treasury indicated to parliament that no additional funding would be made available for the embattled airline. IsaacPat

However, barely a week after cabinet indicated that it supported SAA's business rescue plan which will see the airline making way for a smaller and profitable airline from next year, Treasury threw a spanner in the works in parliament on Friday.

For the SAA business plan to work, the department of public enterprises has already made a commitment to fund the voluntary severance package which would cost R2.2bn. However, in a written presentation made to parliament's finance committee, Treasury created mixed signals on the future of SAA as it indicated that there will be no more bailouts for SAA and that it should shut shop.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Unions to take legal action to prevent SAA liquidation; call for Mboweni to be firedNumsa and Sacca had noted 'with absolute shock and dismay' the recent press statements attributed to Mboweni and the National Treasury to the effect that SAA 'should be closed down'.
Source: IOL - 🏆 46. / 51 Read more »

SAA unions to take legal actionThe two biggest unions at SAA will take legal action to prevent the liquidation of the airline.
Source: eNCA - 🏆 49. / 51 Read more »

Unions to 'stop in their tracks' anyone intent on shutting down SAAThe National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca) have briefed lawyers to oppose the liquidation of SAA.
Source: SundayTimesZA - 🏆 47. / 51 Read more »

Unions to 'stop in their tracks' anyone intent on shutting down SAAThe National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca) have briefed lawyers to oppose the liquidation of SAA.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Numsa, Sacca threaten legal action to stop liquidation of SAAThe unions say they are exploring their legal option to stop the liquidation of troubled the national airline and SA Express, following the Finance Minister's statement that there will be no more bailouts for SAA.
Source: ewnupdates - 🏆 30. / 53 Read more »

South Africans have mixed feelings after 100 days of lockdownAfter 100 days of lockdown, the effects of the restrictions are taking its toll on South Africans.
Source: eNCA - 🏆 49. / 51 Read more »