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SAA requires R5bn bailout to stay afloat – treasury official

Government previously pumped R20 billion into the firm.
SAA needs millions to stay afloat. Picture: Reuters

 South Africa’s state carrier SAA requires a R5 billion ($399 million) cash injection in the current financial year to help it meet its financial obligations, a senior treasury official said on Tuesday.

National Treasury director-general Dondo Mogajane told parliament the cash injection could however not come from government, which has so far pumped R20 billion into the firm.

Mogajane said treasury was willing to consider selling a stake in the airliner to a private equity partner. ($1 = 12.5532 rand)

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Not on my tax dollar anc!

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