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Can Treasury pull cash out of thin air for SAA?


Can Treasury pull cash out of thin air for SAA?

It still hasn’t been able to conjure up the R2bn it is supposed to be giving to save the national carrier

Alexander Winning

The government is scrambling to secure extra funding to rescue SA Airways (SAA), which last month entered a form of bankruptcy protection in a last-ditch bid to save the state-owned company and about 10,000 related jobs.

Finance minister Tito Mboweni told business leaders in Johannesburg ahead of the annual World Economic Forum meeting in Davos, Switzerland, next week that the Treasury had provided “financial support to the best of our abilities”.

“As of yesterday when I was speaking to the director-general of National Treasury, we were still trying to find additional financing for SAA ... let’s keep our fingers crossed,” he said...

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