UK inflation data and New Zealand rate hike remind investors that global economy still faces many challenges
Though highly skilled, SA farmers need access to support services to meet consumer demand for close-at-hand ethically farmed, organic produce
The defence minister tells Moscow conference that SA is always ready to ‘engage in the resolution of conflict
The governing party is discussing whether those criminally convicted of a serious crime should still have a home in the ANC
The court found Google did not play a part in publishing a disputed article by acting as a ‘library’ housing it
July credit and debit card transactions and vehicle sales show us demand is strong
New survey highlights the gender imbalance that has overshadowed SA’s corporate sector for years
England Test captain says he hopes his team has retained their “venom” before the three-match series against SA
Remarkably easy to travel to and magnificent to behold, the Falls are the top attraction of this Zimbabwean town with decent hotels and outdoor activities
In the coming weeks and months the business rescue of SAA is going to redefine our political economy. The decision to put it into business rescue was brave. Less brave ministers in finance and the department of public enterprises have previously kicked the can down the road, refusing to face up to the inevitable. But we are now so far down the road that the end point is visible on the horizon: the bankruptcy of the whole state.
I doubt anyone has taken that prospect seriously (and, to be clear, it is some way down the road). But if we don’t take it seriously now, we will find ourselves there before we know it. SAA has proved that it cannot evolve into a viable business in which revenue exceeds costs. It is losing money continuously and its liabilities swamp assets. The choice was simple: either the government funds its losses interminably or cuts it off...
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email email@example.com or call 0860 52 52 00. Got a subscription voucher? Redeem it now
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.