Public enterprises minister Pravin Gordhan has indicated that SAA will receive about R3.5bn from the state ahead of the conclusion of its sale and operational takeover by its preferred equity partner, Takatso Consortium, though he was insistent this didn’t constitute a new bailout.
Instead, the cash is the balance of R14bn the government has already agreed to in order to settle the airline’s debts and bankroll its restructuring costs before Takatso takes over the entity and assumes operational responsibility. “The total has always been R14bn,” he said...
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