The South African government has not committed to fund a restructuring plan for struggling South African Airways (SAA), Finance Minister Tito Mboweni said in court papers seen by Reuters on Tuesday.
Administrators took over SAA in December after almost a decade of financial losses and last week creditors approved the restructuring plan, which requires at least 10 billion rand of new funds, on the understanding the government would find the necessary cash.
The minister was responding to a court case launched by the country’s largest opposition party, the Democratic Alliance, which wants to block Mboweni from using emergency powers to channel public funds to SAA.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa bans alcohol salesSouth Africa's alcohol ban has shot pineapple prices through the roof—why?
Read more »
South Africa coronavirus death toll tops 5,000 – latest updatesSouth Africa's death toll from coronavirus tops 5,000. Here are other Covid-19 updates: 🇨🇱Chile eyes gradual reopening as infections slow in some areas 🇸🇩Cases near 11,000 in Sudan 🇺🇸Flood of appeals leads Louisiana to suspend help Read more:
Read more »
Revamped South African Airways could be run independently, says GordhanSouth Africa is considering an independent board for its ailing national airline, with a shareholder structure similar to that of part state-owned telecoms firm Telkom, a senior government minister told the local eNCA news channel on Sunday.
Read more »
Home learning, reopening schools especially hard in AfricaThe options for African students to keep studying while schools remain closed seem varied, but the reality for many is that they will fall behind and possibly drop out of school forever—worsening inequality on an already unequal continent.
Read more »
Moonyeenn Lee Dies Following Covid Complications: South African Casting Director & Talent Agent Who Worked On ‘Blood Diamond’, ‘Hotel Rwanda’, ‘Tsotsi’ Was 76Veteran South African casting director and agent Moonyeenn Lee has died aged 76 in Johannesburg, following complications from the coronavirus. Lee worked for almost five decades in the industry, bu…
Read more »
Kanye West misses deadline to qualify for South Carolina ballotRapper Kanye West did not submit a petition required for him to appear on the presidential ballot in South Carolina by Monday's deadline, the state’s election commission said, despite holding the first and only rally of his campaign there on Sunday
Read more »