Public Enterprises Dept heads to Treasury in search of promised billions

SAA is now under business rescue.

File: SAA has been put under business rescue.

eNCA / Heidi Giokos

JOHANNESBURG - The Department of Public Enterprises has approached Treasury to find the R2-billion it pledged to keep South African Airways in the air.

Government committed to this amount when SAA was placed under business rescue in December last year.

READ: There's no cash for SAA, says Gordhan

It supported the move, seeing this as a way to restore confidence in the national carrier and safeguard its assets. 

SAA lenders then provided R2-billion to enable the airline to continue operations.

Government has pledged an equal amount but is yet to cough up the money.

The department of public enterprises says after meeting with Business Rescue Practitioners, it's now engaging with Treasury to ensure the funds are found.

Source
eNCA