Nationwide Treasury says “no additional motion” to bailout SAA airline


South Africa’s Nationwide Treasury stated on Friday there was “no additional motion” deliberate to bailout struggling nationwide airline SAA besides to settle assured debt as makes an attempt to revive the airline cling on a knife edge.

The South African authorities needs collectors to again a restructuring plan for South African Airways (SAA) however didn’t allocate new bailouts for the loss-making state airline in an emergency price range final week.

In its strongest assertion but that it doesn’t plan on giving SAA extra bailouts, the Nationwide Treasury instructed lawmakers they’d not present any new cash to the airline as they’re “bancrupt” and turnaround plans haven’t been finalised but.