Finance Minister Tito Mboweni has allocated R17-billion to SAA to assist the SOE in implementing its business rescue plan. Numsa's spokesperson, Phakamile Hlubi-Majola spoke with eNCA's Shahan Ramkissoon. Courtesy of #DStv403
JOHANNESBURG - Finance Minister Tito Mboweni has allocated R17-billion to SAA to assist the SOE in implementing its business rescue plan.
The decision has been criticised by opposition parties, as the funds have been reallocated from other government programmes during a time of unprecedented global economic upheaval, due to the COVID-19 pandemic.
Numsa's spokesperson, Phakamile Hlubi-Majola said the union is relieved.
"As Numsa and Sacca, we must say we are relieved that finally the money which SAA needs for the restructuring has finally been allocated. This R10,5-billion is money we have been waiting for for a very long time."
Hlubi-Majola said what is important to the union is the management of the allocated funds and that for the money to be spent properly, the SAA Board must resign.
Hlubi-Majola said had the airline entered into a joint venture agreement with Ethiopian Airlines in 2018, the airline could have been recapitalised and the current bailout would not have been necessary.
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