South African Airways – which earlier this week announced an expected loss of R853m in the 2017/2018 financial year – is reportedly considering “a number of financing avenues” to turn its fortunes around.
Acting dg in National Treasury, Dondo Mogajane, was responding on Wednesday to a question raised in Parliament by the Democratic Alliance about whether the national carrier would be partly financed with funds from the Government Employee Pension Fund.
Mogajane did not directly answer the question but told members of Parliament that National Treasury was taking a “long-term view” with regard to the recapitalisation of the airline, which could also include a cash injection. He did not reject the possibility of public funding.
eNCA reported that the airline was losing R1bn on regional routes. SAA told Parliament it was losing R250m a month and, as a result, had not filled vacant positions in the past year.