SA Express bailout hope fails to fly with Tito Mboweni
Records kept by Acsa on airline ‘on-time performance’ show a marked deterioration by SA Express over July
Finance minister Tito Mboweni has taken a hard line on struggling state-owned airline SA Express and has turned down its plea for a R200m government-loan guarantee.
The guarantee is vital for the airline to keep flying. It has depleted its working capital and is unable to borrow from commercial banks without it.