The Minister of Public Enterprises has welcomed the decision by the government to back the business rescue plan for, and the restructuring of, State-owned national flag carrier South African Airways (SAA). The government has committed itself to provide R10.5-billion to fulfil these objectives. “The Ministry believes that the completion of the business rescue process is the only viable alternative to a viable and sustainable national carrier – one which supports job preservation and the ability to bring the airline back from the brink to a position where employees, suppliers, and business partners can continue to contribute to the South African economy and its integration into the global economy,” affirmed the Minister’s office in its statement. It argued that a failure to provide the funding would have led to the liquidation of the airline, which would have cost more than R18.5-billion.
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