SAA's Bailout: A Billion-Rand Question
Johannesburg News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
South African Airways bailout bill reaches 133.3 billion rand, with taxpayers footing the majority of the cost. This is more than ninety percent of the total aid given to state airlines, dwarfing the assistance provided to smaller carriers like SA Express and Mango. The airline received around 68 billion rand in direct aid before business rescue, with another 29.4 billion rand flowing in during that period. Additional compromises with creditors added 35.7 billion rand to the bill. This massive spending could have bought over 10.3 billion loaves of bread or hired 400,000 people for a year. In aviation terms, it equals 58 million one-way tickets from Johannesburg to Cape Town. The heavy price of propping up state airlines raises questions about better uses for the cash as economic pressures mount.
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