The South African Cabin Crew Association (SACCA) has expressed serious concerns about the future of South African Airways (SAA) ahead of the expiry of Sunday’s deadline for the government to grant the embattled airline a R2 billion bailout.
It has appealed to the government to urgently release the funds to keep the airline’s aircraft in the air.
SAA’s business rescue practitioner Les Matuson has been in meetings with Public Enterprises, Trade and Industry and Treasury officials since Saturday to discuss the airline funding crisis.
The airline has already received R2 billion from lenders.
In a statement released on Sunday, the Public Entreprises Ministry says, “The Business Rescue process is unprecedented.” It further adds that “it is a decisive move that demonstrates that the government will undertake the necessary bold steps in order to reposition its assets in such a way that they do not continue to depend on the Fiscus and thereby burden taxpayers.”
Credit: Source link