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Govt still needs R10bn (on top of R16.4bn to repay debt) to make SAA 2.0 fly

15 July 2020 10:20 AM
Tags:
South African Airways
Pravin Gordhan
SAA
Refilwe Moloto
Department of public enterprises
Breakfast with Refilwe Moloto
Philip Saunders
Nonny Mashika

Refilwe Moloto interviews Nonny Mashika, Deputy Director-General for Aviation at the Department of Public Enterprises.

South Africa is getting a brand-new, state-owned airline.

Picture: 123rf.

Related: It’s official! We're getting a brand-new, taxpayer-funded (R16 billion) airline


The pressure is on Public Enterprises Minister Pravin Gordhan to find R10 billion to refuel South African Airways (SAA) after its creditors on Tuesday approved its business rescue plan, thereby avoiding liquidation.

No turkey votes for Christmas.

Refilwe Moloto, presenter - CapeTalk

The new SAA will have Philip Saunders – the current Chief Operating Officer - as acting Chief Executive.

Mr Saunders… his CV is remarkably lightweight.

Guy Leitch, Managing Editor - SA Flyer Magazine

We’re not happy about the interim CEO… Two steps forward, 20 steps back… The same people who brought the airline down are the people who must take it forward…

Advocate Christopher Shabangu, Deputy President - South African Cabin Crew Association

Refilwe Moloto interviewed Nonny Mashika, Deputy Director-General for Aviation at the Department of Public Enterprises.

Last month, Mashika voiced the Department’s desire to see SAA survive in some form to "reclaim market share while fighting to compete more in the emerging market space."

Moloto asked Mashika about their next move, and where the money will come from to get neo-SAA in the air and out of debt.

We will announce the new interim board in the next few days…

Nonny Mashika, Deputy Director-General for Aviation - Department of Public Enterprises

The board will be looking within the country to see what skills are available… and internationally, taking into consideration that the airline operates globally…

Nonny Mashika, Deputy Director-General for Aviation - Department of Public Enterprises

The four big lenders are the ones with much of the debt… Some of the debt has been settled over the past few days, especially because the airline has been generating some revenue… Government is also looking at how we can repay some of the debt…

Nonny Mashika, Deputy Director-General for Aviation - Department of Public Enterprises

The R16.4 billion is there to repay legacy debt… Cabinet has tasked the DPE and National Treasury to find funding solutions for the airline, both from the government and the private sector…

Nonny Mashika, Deputy Director-General for Aviation - Department of Public Enterprises

Listen to the interview in the audio below.


15 July 2020 10:20 AM
Tags:
South African Airways
Pravin Gordhan
SAA
Refilwe Moloto
Department of public enterprises
Breakfast with Refilwe Moloto
Philip Saunders
Nonny Mashika

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