Friday , December 4 2020

New Socialist Party Requests SAA Closure



Rustenburg – South African Airlines (SAA) should not get bailout money from the government, a new socialist party, Rebuild South Africa (RSA), said on Monday.

"Minister of Finance [Tito Mboweni] In our view, it is clear that there is a clear truth about the state of the company that it has to start off with a new airline closure, a clean slate, and develop emergency plans and models to successfully operate the aircraft into a profitable location. " .

"We have a view that the state can not use the taxpayer's money to finance losses and continue to raise money to pay the debt."

"We have lost more than R $ 20 billion from 2011 to the present, and now we are expecting a loss to break even in fiscal year 2020/2021," he said. We need to pay attention to the turnaround plan of the aircraft, and we need bail-out financing so that 210 billion RMB will continue to operate and sustain in the next three years. "

Mboweni announced its mid-term budget policy in October that SAA will get $ 5 billion.


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