PETER BRUCE: Bankrupt SAA takes a step towards survival
The national carrier is almost gone, but a glimmer of hope remains
If SAA was a relative on life support in a television hospital drama, family members would now be sitting around the bed discussing the merits of pulling the plug. There is no hope of recovery, but the misery can be extended. If you squeeze a hand it squeezes back.
Dr Gordhan, the hero of this soap opera and senior surgeon at Peoplemed, sweeps into the room to announce he is going to try one last remedy. He has consulted a colleague, a Dr Mboweni, over at Moneymed. They have argued and agreed. They are going to put the patient into a deep coma, called Business Rescue, from which it may or may not recover, and in an unexpected twist Moneymed is going to fork out a final R2bn guarantee for a “decent” coma. It has to be decent. Everybody wins!