SAA requires R5bn bailout to stay afloat – treasury official

8th May 2018 By: Reuters

SAA requires R5bn bailout to stay afloat – treasury official

Photo by: Creamer Media

State carrier SAA requires a R5-billion cash injection in the current financial year to help it meet its financial obligations, a senior treasury official said on Tuesday.

National Treasury director-general Dondo Mogajane told parliament the cash injection could however not come from government, which has so far pumped R20-billion into the firm.

Mogajane said treasury was willing to consider selling a stake in the airliner to a private equity partner.