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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Port Elizabeth International: Luggage Guidelines

Luggage Guidelines of Port Elizabeth International General Keep your hand luggage with you at all times. Ensure that all zips and fasteners are in good working condition – baggage can move about in the overhead compartment and unsecured items may fall out. Don’t wrap gifts – it is possible that the security teams may wish […]
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Bram Fischer International: Luggage Guidelines

Luggage Guidelines of Bram Fischer International General Keep your hand luggage with you at all times. Ensure that all zips and fasteners are in good working condition – baggage can move about in the overhead compartment and unsecured items may fall out. Don’t wrap gifts – it is possible that the security teams may wish […]
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King Shaka International: Luggage Guidelines

Luggage Guidelines King Shaka International ​General Keep your hand luggage with you at all times. Ensure that all zips and fasteners are in good working condition – baggage can move about in the overhead compartment and unsecured items may fall out. Don’t wrap gifts – it is possible that the security teams may wish to […]
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Cape Town International: Luggage Guidelines

Luggage Guidelines for Cape Town International Airport General Keep your hand luggage with you at all times. Ensure that all zips and fasteners are in good working condition – baggage can move about in the overhead compartment and unsecured items may fall out. Don’t wrap gifts – it is possible that the security teams may […]
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O.R. Tambo International: Luggage Guidelines

Hand luggage guidelines for OR Tambo International Keep your hand luggage with you at all times. Ensure that all zips and fasteners are in good working condition – baggage can move about in the overhead compartment and unsecured items may fall out. Don’t wrap gifts – it is possible that the security teams may wish […]
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George Airport: Facilities

George Airport is located at the heart of the Western Cape’s Garden Route; a fashionable holiday destination and home to many of South Africa’s most affluent residents. Conferencing ​There is a conference room and a board room on the first floor. The conference room can seat 30 people and the boardroom 10. For further information […]
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Port Elizabeth Airport: Facilities

Known as the ‘ten minute airport’, Port Elizabeth Airport is situated within five minutes drive from the central business district and the beach front and no more than ten minutes from other areas of importance in the city. Postage ​There is a post box in the departures terminal. Banking ​An automated teller machine (ATM) can […]
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Bram Fischer International Airport: Facilities

Bram Fischer International Airport was officially renamed Bram Fischer International Airport by President Jacob Zuma at an historic event held at the airport on 13 December 2012. Accommodation There is a Roadlodge at the airport. The other accommodation is located in the city of Bloemfontein approximately eight kilometres from the airport. Banking Nedbank ATM. Conferencing […]
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