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Gordhan expected to update MPs on developments with SOEs, including SAA

Public Enterprises Minister Pravin Gordhan is due to brief a joint virtual meeting of parliament’s committees charged with oversight of public enterprises at 6pm on Wednesday.

FILE: Public Enterprises Minister Pravin Gordhan. Picture: EWN

CAPE TOWN - Public Enterprises Minister Pravin Gordhan is expected to give an update on developments in state-owned enterprises later on Wednesday, including South African Airways (SAA).

Gordhan is due to brief a joint virtual meeting of Parliament’s committees charged with oversight of Public Enterprises at 6pm on Wednesday.

Committee members are likely to have many questions for Gordhan about the stricken national carrier, SAA, which was put into business rescue earlier this year.

Minister Pravin Gordhan is expected to face a barrage of queries about SAA after the government said it intended to create a new state airline that was “financially viable”.

The government has been in talks with unions represented at the airline and a “leadership compact” was signed last week.

At issue is where the funding for a new airline will come from and the role that the state will play.

The COVID-19 lockdown has hit the aviation industry hard, with private, and to date, profitable company Comair going into business rescue on Tuesday.

SAA’s business rescue practitioners suggest there are only two options for it - liquidation or a structured winding down and the retrenchment of all its staff.

The government has refused to grant SAA, which is insolvent, any further bailouts.