South Africa's Minister of Public Enterprises, Pravin Gordhan, said the government has yet to determine how the rescue of South African Airways will be funded.
His ministry and the National Treasury said on July 16 they would mobilize the additional 10 billion rand ($599 million) the bankrupt airline's administrators said is needed to effect the rescue. In a July 17 Twitter posting Finance Minister Tito Mboweni denied planning to bail out SAA.
“What government has committed to is to mobilize funding, Gordhan said in an interview on The Fix, a program on Johannesburg-based television station eNCA. “Now where it comes from, the form is comes is something that is still being worked on.”
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
