SAA gets R10.5-billion government bailout

SAA gets R10.5-billion government bailout #eNCA

2020-10-28 05:40:00 PM

SAA gets R10.5-billion government bailout eNCA

Government announced the release of R10.5-billion needed to fund a plan to rescue struggling, state-owned SAA.

would remain.The aim is then to grow it back to 26 planes by the end of 2021 and re-hire 1,000 furloughed staff.Meanwhile, the DA said SAA should not have been bailed out.The party said Mboweni has gone back on his promise to get debt under control.The DA said SAA should not have been bailed out. The party said Mboweni has gone back on his promise to get debt under control. Courtesy #DStv403

Duduzane Challenge: Taking walking to a new level Truck torching remains a concern across SA’s major highways Hope grows on Durban beachfront Read more: eNCA »

WATCH: President Ramaphosa addresses the nation

President Cyril Ramaphosa will address the nation at 8pm on the country's response to the coronavirus pandemic.

Government needs to stop this nonsense hey. The amount of money spent bailing out these entities would have changed millions of lives The ANCGovt has essentially caved in to the demands of ANCAlignedUnions & ANCDeployees at SOEs: The SATaxpayer has been permanently saddled with bailouts for dysfunctional, wasteful SOEs run by incompetent ANCcadres!

What a waste of tax payers money !!! Another taxpayers money into the bottomless pit, how long are we going to bail this useless airline mara? First of all this SAA never makes profit, it always asking for bail outs. We really don't need it as a country. Another thing, couldn't they take money from art and culture and sports departments so useless things like that? Why police and universities because these are important

Boycott SAA I'm just relieved because the poor will be able to continue flying everywhere How ironic is this so this means that the world bank request to cut the public servants wage bill was granted Daylight robbery When u corrupt u get paid.. When u an honest civil servant your salary increase with year on year inflation gets stopped CyrilRamaphosa PresidencyZA GovernmentZA why u allow Dishonorable Leaders to continue leading 😔

Money down the drain. Next year they will ask another 10 billion. Why they cannot get competent professionals to run SAA? ✨privatise✨ Just another F$&ked up SOE to line the pockets of the ANC In South Africa people who are inadequate or fail get paid millions via corruption. The real winners are made to seem like failures because they aren't paid well for their talents. These same corrupt people walk past us and act better, although we best them in all skills.

Apartheid used black people tax money to support white minority and bailed SOEs with our blood and sweat. Now the tax money is distributed equally with the blacks. Whites with their Indians channel complains. Tsek. What about the R200 billions creditors got from Government? Enemy of the Africans development newspaper. While private companies get taxpayers money.

SAA do not not need bail, SAA needs a plan a very good plan or else this bail out think will regular song every year. Ethopian Airways had a crush that ruined their business but had bounced to make about R126 million in profit. SAA never had to experience such tragedy our only Cancer is corruption the sad part is public taxes😪

That’s gonna last 6 months. Kindly follow us on all social media platforms, we are Ntebatse Vinolia Tsi Eish Thats dumb It will never ever stop. ANC keeps SA trapped through terrorist tactics... giving SAA money time and time again isn't poor money management, it's a cold calculated terrorist manoeuvre to keep SA on it's knees and ANC in control.WAKE UP SA!!!

Another DONATION to corruption. We'll done Tito well done. The ‘Crow Knee Economy’ soldiers on. How much did SAA get from government since Mboweni was the finance Minister Does the South African citizen not get a say in this? Can someone pleasealw this stop 🙁😣..... South African politicians need to be stopped hleng

Its not a bailout though...its money for it to get restructured, retrenchment costs and for it to be transformed into a new airline. What are we going to get in return for bailout of SAA? XolisaSipamla Now I remember Isn't he the same guy hu sed SAA is useless n does not make to keep bailing out SAA if they not making profit for the past 10 yrz?

This is unsustainable and can’t go on forever! At some point something will have to give. Not again!!🤬😡😳🙄🤬💩 Tjo and we not getting our increments Fokoff Big mistake WTF ? 😡👎 It will not see December 2020. 😂😂😂 SAA must stay because money was spent on the statue It's not bail out. Bad reporting BOYCOTT SAA, PEOPLE... ALL THE TIME! Let them continue to crash and burn! The quicker they go through that 10 billion the sooner it’s over.... again!!!

Jehova! 🤦🏾‍♀️ StateCaptureInquiry By December they’ll be requesting for more funds mark my words and next year by June they’ll have another CEO cause he would have finished the money they just got now by them. CyrilRamaphosa Malume I also need a bailout 🙏 Lol they gonna ask for more HowCanISayThis Public servant vanity DA payslip Hw about 1/3 4ever DA lowest mp mke more than a milli Uncle Cyril deep in a billy If each made a milli from 400 seats 1/3 would b 120 Lets turn 180 stead of campaign 4 uturns It's our turn Farms in every bck yard PoliticianPayCut

Until next year.... Cadres look after one another yaz SAA is milking Money out. It will last 3 months Waiting for them clever folks to come here swearing... Yithi ndichophe Just for SAA to be sold off and acquired privately with state money...the lunacy!!! Worst ever plan by tito_mboweni. He has finally collapsed the economy.

R10.5bn for SAA rescue plan, R144m for SA Express — and R63m more for Zondo commissionFinance minister Tito Mboweni has allocated more than R10bn to finance the business rescue of SAA after he opted to cut salary budgets of government departments and reduced some service delivery grants. 🤣🤣🤣 63 million kanti when are they finishing. Anything for small businesses? I’m happy for R63m. Until ACE GANGSTER MAGASHULE IS ARRESTED THEN YOU WILL STOP FUNDING ZONDO.

R10.5bn for SAA rescue plan, R144m for SA Express - and R63m more for Zondo commissionFinance minister Tito Mboweni has allocated more than R10-billion to finance the business rescue of SAA after he opted to cut salary budgets of government departments and reduced some service delivery grants.

Bongo brothers released on R10,000 bailANC MP, facing a second charge of corruption, and his brother have been granted bail

Bongo, his brother granted bail of R10,000 eachFormer state security minister and current chairperson of the portfolio committee on home affairs, Bongani Bongo, and his brother Sipho have been released on bail.

Departments raided to help bail out SAA and other ailing SOEsThe departments of higher education and the police will lose over R1bn each due to spending reallocations in the medium-term budget

No budget cuts and no bailout for SAA: What SA expects from Tito Mboweni's mini-budgetThe country is waiting with bated breath for finance minister Tito Mboweni to table his medium-term budget policy statement in parliament on Wednesday afternoon.