Taxpayers – rich and poor – have poured R55 billion into SAA’s bottomless pit

Taxpayers – rich and poor – have given South African Airways (SAA) bailouts of more than R55 billion since 1999, according to Sikhonathi Mantshantsha, Deputy Editor at Financial Mail.

Despite it all, according to its latest turnaround plan, SAA needs about R16 billion over the next three years to break even.

The Money Show’s Bruce Whitfield interviewed Sikhonathi Mantshantsha, Deputy Editor at Financial Mail.

Listen to the interview in the audio below (and scroll down for quotes from it).

British Airways was released by the British government… Air France was released… They pay taxes to the state… Why do we need South African Airways that only loses money and distorts the market?

Sikhonathi Mantshantsha, Deputy Editor - Financial Mail

The market is never wrong, but the government always is when it comes to running businesses.

Sikhonathi Mantshantsha, Deputy Editor - Financial Mail

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This article first appeared on 702 : Taxpayers – rich and poor – have poured R55 billion into SAA’s bottomless pit


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