Gigaba must stop passing the buck and sell SAA
Note to editors: Attached please find sound bites in English and isiZulu
Claims by Finance Minister, Malusi Gigaba, that the DA’s revelations that he has already signed a R10 billion bailout proposal for the drowning State airline, South African Airways (SAA), ‘has blown the negotiations’ is disingenuous at best and grossly misleading at worst.
SAA has been in trouble for over a decade and is now in very serious trouble due to the ANC government’s utter failure to turn it around.
Gigaba reportedly said that ‘the statement by Lees that a R10bn recapitalisation of SAA was on the cards… has blown the negotiations. SAA had lost its leverage.‘
He is horribly mistaken. The Standard Chartered Bank demanded payment from SAA in June this year and this no doubt caused other banks to demand payment.