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SAA BRPs waiting on govt to communicate funding plan for airline's restructure

The Public Enterprises Department said that it was confident that the R10.4 billion needed for the restructured carrier would be made available to the practitioners very soon.

FILE: SAA planes. Picture: EWN

JOHANNESBURG - The South African Airways (SAA) business rescue practitioners (BRPs) said that they have not been informed by government about when funding to restructure the airline would be made available.

The Public Enterprises Department said that it was confident that the R10.4 billion needed for the restructured carrier would be made available to the practitioners very soon.

Finance Minister Tito Mboweni is expected to iron out during his Medium-Term Budget Policy Statement next month where the finances will come from.

The administrators have been overseeing the project for almost a year.

The Public Enterprises Department said that government was deciding on different ways in which the money to revive the new airline could be channeled.

Department head, Kgathatso Tlhakudi, said that there was a need for a revived airline.

“We need a brand that will ensure that people from all over the world are able to reach us.”

After saying that Treasury had no money for a new national carrier before, Mboweni has since remained tight-lipped about funding for the airline.

SAA business rescue practitioners Leslie Matuson and Siviwe Dongwana said that once government had communicated its plan, they would inform creditors on a way forward.

About 2,700 employees at the embattled airline have been retrenched and offered severance packages after losing their jobs as a result of poor management of the national airline.

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