Our website use cookies to improve and personalize your experience and to display advertisements (if any). Our website may also include cookies from third parties like Google Adsense, Google Analytics, and Youtube. By using the website, you consent to the use of cookies.

S.Africa gives national airline $98 mln, but administrators can’t use it

S.Africa gives national airline $98 mln, but administrators can’t use it

THE South African government has transferred 1.5 billion rands ($98 million) to administrators for national airline South African Airways (SAA) but the funds cannot be used yet, the administrators said. The administrators said the conditions the Department of Public Enterprises (DPE) attached to how the money should be spent were in contravention of labour and companies laws. “We are unable to utilise the funds until the conditions have been amended by the DPE,” they added in a statement. A DPE spokesman said the department would comment later. SAA entered a local form of bankruptcy protection in December last year after…
Read More