Nene to decide on guarantee for SAA

[Ockie]

Johannesburg - Deputy Minister of Finance Mcebisi Jonas yesterday confirmed in Parliament that Finance Minister Nhlanhla Nene would decide next week on whether to give troubled state carrier SAA another R5 billion guarantee for the new narrow-body aircraft.

Opposition parties were up in arms over the R5bn request by the SAA board. They argued that this would be on top of the R6.5bn guarantee given in January to the national carrier. Right now SAA’s state guarantees stand at R14.4bn.

http://www.iol.co.za/business/companies/nene-to-decide-on-guarantee-for-saa-1.1947503

 

[grok]

Nene should stick to breaking chairs, he knows nothing about tightening belts.

 

[skeptic_SA]

Leadership at private airlines must want to lose their schitt when they read about this. It irks me no end at how unfair this is. Cant imagine how much it must P them off.

 

[Ockie]

I worry about when that day comes when all these billions of Rands becomes payable. This airline will not be turned around with the ANC government. It just wont happen. Those loans to SAA backed by the government will sooner or later be called in for payment and then the government is going to have to cough up. Or the tax payer I guess I should be saying.

 

[Adoxographist]

Perfect test to see if he is a push over or not.

 

[creeper]

Tough decision. SAA bail out or plane for Zuma.

 

[BashX]

Tough decision. SAA bail out or plane for Zuma.

Or Both... that's the African way.