South African Airways dodges a bullet

South African Airways dodges a bullet

By Daniel Itai, Ekhurhuleni, South  Africa

South Africa’s embattled state owned airline, South African Airways (SAA) has survived liquidation.

According to the department of Public Enterprises, government has availed funds to keep the airline afloat.

“We have managed to secure the funds so the airline is not going to be liquidated the Business Rescue Practitioners will get the money this week.

The Minister of Finance and the Treasurer General will give further clarity on how the money was secured. We are a country that is very much dependant on tourism about half a million people are employed in the sector so we need to have our own airline that can be able to represent us to the rest of world.

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10 000 people are employed by SAA. They are people who are willing to feed on the demise of SAA and who will benefit from that? It’s not our people,” said the department’s acting Director-General, Kgathatso Tlhakudi.

SAA is in urgent need of R10.5 billion (approximately US$650 million) to keep it in the skies after having accrued a series of debts that span to more than a decade ago.