Parliament welcomes SAA funding from Development Bank of Southern Africa

29 January 2020

The Chairperson of the Portfolio Committee on Public Enterprises, Mr Khaya Magaxa, has welcomed the R3.5 billion in funding for South African Airways (SAA) from the Development Bank of Southern Africa (DBSA).

Mr Magaxa said the money will enable the airline to continue with its operations after the recent uncertainty about its future. “With the new funding, SAA should be able to address issues that created a lot of doubt about its sustainability,” said Mr Magaxa.

“Media reports indicated that the SAA business rescue practitioners had not received the required R2 billion. However, the new lifeline that SAA has been given should aid those tasked with bringing stability to the national carrier to continue with their work,” he added.

The committee will invite the business rescue practitioners to brief the committee on plans and programmes to turn things around at the national carrier.

Issued by Yoliswa Landu, Media Officer, Parliamentary Communication Services, 29 January 2020