Menu

SA Financial Minister considering 13bn rand bailout for SAA

Featured

SA Financial Minister - [https://lh3.googleusercontent.com/qOhSYWRPfe72c7ARm6PuyidUL5UnD64bq4Qr9wS6-tf4Fhi8QB_cVFB5BbVgw2AZKQbSHWctx8WtcJFTdIV_Q8_YdfHMCa4=s750] SA Financial Minister - [https://lh3.googleusercontent.com/qOhSYWRPfe72c7ARm6PuyidUL5UnD64bq4Qr9wS6-tf4Fhi8QB_cVFB5BbVgw2AZKQbSHWctx8WtcJFTdIV_Q8_YdfHMCa4=s750]

South Africa’s Treasury is considering a 13 billion rand ($972 million) bailout state airline SAA to keep the company going as it battles a mounting cash crunch, Finance Minister Malusi Gigaba said on Friday.

“We are in discussions about that and at the medium term budget statement in October I will make the necessary announcement,” Gigaba told Johannesburg’s Talk Radio 702.

The Treasury said on Thursday it had appointed Vodacom Group executive Vuyani Jarana as SAA chief executive. Jarana becomes the first permanent chief executive in over two years.

($1 = 13.3687 rand)


 

Source

CNBCAFRICA

back to top

Industries

About us

Follow us

Follow us @BusinessNewsCT

BusinessNewsCT My week on Twitter 🎉: 2 Mentions, 4.33K Mention Reach, 1 Like, 2 Retweets, 4.93K Retweet Reach. See yours with… https://t.co/WW4pGraRUG
4hreplyretweetfavorite
BusinessNewsCT Listeriosis outbreak hits Tiger Brands for R363 million – and counting - https://t.co/8JMSSgk8Sm https://t.co/I311GaGHWc
BusinessNewsCT Molefe to cut 'deep claws' of corruption at Transnet - https://t.co/dZ2JZOhyHq https://t.co/zCZ9MUrq79