Finance Minister Enoch Godongwana said that billions had been poured into the airline which would justify selling a majority stake in the national carrier to a private partner.
That's what Finance Minister Enoch Godongwana had to say to MPs on Tuesday.
He said that billions had been poured into the airline which would justify selling a majority stake in the national carrier to a private partner. Godongwana and his public enterprises counterpart, Pravin Gordhan, on Tuesday briefed Parliament’s Standing Committee on Public Accounts .The Public Enterprises Department said that the situation had become untenable despite billions in government funding to keep it in the skies."Since it was taken out of Transnet and became independent from 2007/2008, it has cost the state, to date, R49 billion. So there’s no doubt that it’s a fiscal drain," the finance minister said.
Gordhan told Scopa that those interested in buying the flag carrier had a number of conditions, like holding a majority stake and no political interference. He said that the COVID-19 pandemic had a significant impact on the fiscus and on the aviation industry.
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