SA National Treasury gives SA Express a R300 million bailout

The National Treasury has just announced that it has committed R300m to drag the bankrupt SA Express airline of its financial difficulties.

The company’s Chief Executive Officer, Siza Mzimela, disclosed the information to the media.

The airline company needs the R300m guarantee to keep its wings up and does not have the ability to obtain a loan from commercial banks without shareholders guarantees.

Rumours are circulating that the ANC’s Finance Minister, Tito Mboweni, has refused a request for assistance, saying the airline company, and perhaps the SA Airways, should be sold instead.

The R300m is in addition to the R1.2bn SA Express received in its February budget.

The amount is not, however, because the R1.2 billion is only for debt for which the Treasury has given guarantees.

How many other debts the company has is unknown.


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SA National Treasury gives SA Express a R300 million bailout

The National Treasury has just announced that it has committed R300m to drag the bankrupt SA Express airline of its financial difficulties.

The company’s Chief Executive Officer, Siza Mzimela, disclosed the information to the media.

The airline company needs the R300m guarantee to keep its wings up and does not have the ability to obtain a loan from commercial banks without shareholders guarantees.

Rumours are circulating that the ANC’s Finance Minister, Tito Mboweni, has refused a request for assistance, saying the airline company, and perhaps the SA Airways, should be sold instead.

The R300m is in addition to the R1.2bn SA Express received in its February budget.

The amount is not, however, because the R1.2 billion is only for debt for which the Treasury has given guarantees.

How many other debts the company has is unknown.


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Cape Town ranked best business tourism destination in Africa by ICCA.

Wesgro has announced that the International Congress and Convention Association (ICCA) has ranked Cape Town as the number one city in Africa for business tourism and now rank in the top 40 destinations for business tourism in the world – improving 15 places on the global rankings from 54th place in 2015 to 39th place […]
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