DA writes to SAA lenders advising them to demand an immediate recall of government guarantees
24 July 2020
Today, the South African Airways (SAA) creditors once again kicked the SAA can down the road for the umpteenth time. I have written to the commercial banks who comprise the lenders secured by government guarantees to demand that they take immediate action to call in the government guarantees and to put an end to the agony for every South African of the SAA disaster.
In their meeting today, the creditors voted in favour of another delay by giving Pravin Gordhan, the Minister of Public Enterprises, more time to meet the simple condition contained in paragraph 42.1 of the SAA Business Rescue Plan.
We can only conclude that Gordhan is battling to get agreement from his reluctant colleague Tito Mboweni, the Minister of Finance.
The DA calls on the creditors to reject the SAA Business Rescue Plan with the contempt it now deserves.