South Africa Government

SAA Flight Schedules and Debt: South Africa to Help Fund Rescue for Airline

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South Africa’s government will provide initial funding to cover certain restructuring costs for the country’s insolvent airline, said Minister of Public Enterprises Pravin Gordhan.

South African Airways needs about 10.5 billion rand ($650 million) to restart. Funding is needed for workers’ severance packages, to pay creditors and cover operational costs, the minister said in response to questions from Bloomberg News.

“The money issue from government side will be resolved in the coming week in meetings due, but commitment has been settled,” Gordhan said by email.

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