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The Board of Transnet today assured the leadership of the United National Transport Union (UNTU) that SA Express will pay back the R222 loan Transnet made to the struggling airline in December 2017.
 
Ms Mpho Letlapa, one of the Board-members, told UNTU that the Board wrote to Pravin Gordhan, Minister of Public Enterprises, that it wants SA Express to repay the controversial loan it was instructed to loan to SA Express by former Minister of Public Enterprises, Lynne Brown.
 
“We all know that SA Express does not have the money now. But as the Board we were assured that the loan was part of the airlines business rescue plan and we have been assured that Transnet will get its money back,” Letlapa said.
 
After the loan from Transnet, which SA Express must repay with interest, National Treasury gave the airline another 1,2-billion-rand bailout.
 
Transnet and SA Express, both state-owned enterprises (SOE’s) reports to the same Minister.
 
SA Express has been steadily reintroducing flights since its operations were grounded in May last year. The key focus is now to steer the business towards financial stability.
 
Issued on behalf of UNTU