“The sword of Damocles has now fallen on us,” finance minister Tito Mboweni said in his budget speech to parliament on Wednesday, referring to the inevitable crash landing of SAA after years of losses and bailouts.

SAA fared the best of the state-owned enterprises (SOEs) in terms of budget support, other than Eskom, which was already placed on life support in 2019’s budget with a huge R150bn bailout to spread over 10 years...

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