The R16.4bn (approximately €967.7 million) government windfall allocated to SAA in the medium-term – announced by Minister of Finance, Tito Mboweni, during his 2020 Budget Speech yesterday – will go towards settling debt and interest.
This was clarified by Louise Brugman, spokesperson for the SAA business rescue practitioners, Les Matuson and Siviwe Dongwana.
Public Enterprises Minister, Pravin Gordhan, told MPs last week there was hope of rescuing the ailing state-owned company, noting that it was imperative to find a way to assist the national carrier.
He said liquidation would impact market confidence.
