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SAA Might Shut Down As The SA Govt Declines To Give The Airline An Additional R10 Billion Rescue Package - Report

3 years agoSat, 18 Apr 2020 20:43:40 GMT
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SAA Might Shut Down As The SA Govt Declines To Give The Airline An Additional R10 Billion Rescue Package - Report

The South African Airways might not recover from the COVID -19 pandemic as the South African government has refused to give the airline an additional R10 Billion rescue package it is expending to other businesses, SABC News reports.

According to the publication:

Economists say the time has come to shut down State Owned Enterprises that are bleeding the coffers and are not profitable. SAA business rescue practitioners have given the entire workforce notice to terminate their employment by the end of April. This was after Government declined to give the airline additional 10 billion funding requested to finalise the business rescue process.

SAA is not the only airline that has been affected by the pandemic, other global airlines are reportedly reeling from the effects of the shutdown imposed in many countries due to the pandemic.

Watch the SABC video below;

Usanetseke neNetOne airtime.

Baya *405# utenge neEcoCash

 

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