Carol Paton Editor at Large

Public enterprises minister Pravin Gordhan has tossed the SAA problem to finance minister Tito Mboweni, who has been asked to commit the cash-strapped government by Wednesday to finding more than R10bn to fund a restructured national airline.

This comes after creditors on Tuesday voted overwhelmingly in support of a business rescue plan that has been seven months in the making. The plan envisages a restructured carrier that will fly most of the domestic, regional and international routes it has previously operated, but with a lower cost structure and much reduced staff numbers.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now