SAA bailout will pave way for private investors, says Treasury
Deputy finance minister David Masondo says the money government has earmarked for the airline is to meet financial obligations
The Treasury said its much criticised decision to raid education and police budgets to fund SAA was necessary to meet financial obligations, and would help find private investors and wean the airline off state aid.
Deputy finance minister David Masondo told Tim Modise on Business Day TV’s Political Currency show on Wednesday night that the R10.5bn was not a bailout, while Treasury director-general Dondo Mogajane said in an interview with Bloomberg that up to five potential equity partners were waiting on the conclusion of its business rescue. He did not name them...