News

Numsa ‘relieved’ at the announcement of SAA bailout

0
(0)

Numsa ‘relieved’ at the announcement of SAA bailout

Numsa ‘relieved’ at the announcement of SAA bailout

Finance Minister Tito Mboweni awarded SAA an amount worth R17 billion to help the state-owned enterprise implement its corporate rescue plan.

The decision was criticized by opposition parties as funds were reallocated to other government programmes during a period of unprecedented global economic turmoil due to the COVID-19 pandemic.

Numsa spokesman Phakamile Hlubi-Majola said the union is relieved.

“As Numsa and Sacca, we must say we are relieved that finally the money which SAA needs for the restructuring has finally been allocated. This R10,5-billion is money we have been waiting for for a very long time.”

Hlubi-Majola said the important thing for the union is the administration of the allocated funds and for the money to be spent accordingly, the SAA board must resign.

Hlubi-Majola said that if the airline came into a joint venture agreement with Ethiopian Airlines in 2018, the company could have been recapitalised and the current bailout plan would not have been needed.

The post Numsa ‘relieved’ at the announcement of SAA bailout appeared first on .

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

South Africa News

Get breaking South Africa news, south africa news today, latest south african news today, what is happening in south africa, latest news south africa, headlines today breaking news, daily news south africa, current situation in south africa

Related Articles

Leave a Reply

Your email address will not be published.