Home World AFRICA Billions into SAA black hole a worry – The Citizen

Billions into SAA black hole a worry – The Citizen


Finance Minister Tito Mboweni missed a massive opportunity to draw a line in the sand after approving a R10.5 billion bailout for the SA Airways in his medium-term budget policy statement in parliament yesterday. The national airline, awarded a R16.4 billion bailout from government in February, will now get the money for its restructuring as part of its business rescue plan. SAA was placed under administration in December following years of mismanagement. Yet another bailout is naturally concerning, but even more worrying is where the money comes from. Essentially, the bailout has been funded from money previously allocated for education,…



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