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WATCH: Will more money make SAA work?
South African Airways (SAA) has debt of more than R9.2bn and needs another capital injection of R5bn to pay its debts and other operational costs, this after receiving state guarantees of nearly R20bn. This became apparent after SAA faced Parliament’s standing committee on public accounts to answer questions about its irregular, fruitless and wasteful expenditure for the 2016-17 financial year. The CEO and board believe the airline can be turned around, while trade union Solidarity says that business rescue is the only option. The union plans to go to court for that application. Committee chairman Themba Godi spoke to Business Day TV to discuss the issue further. OR LISTEN TO THE AUDIO: Listen to all latest podcasts here.
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