Mboweni And Gordhan Remains Silent On SAA Business Rescue Plan

The resignation of Nico Bezuidenhout as CEO of Mango airline, a subsidiary of SAA, is another indication of the futility of the Les Matuson and Siviwe Dongwana R33 billion business rescue plans.

Mboweni And Gordhan Remains Silent On SAA Business Rescue Plan-SurgeZirc SA
The Minister of Finance, Tito Mboweni/ Photo File:Screengrabs

The Democratic Alliance (DA) has requested the Minister of Finance, Tito Mboweni and the Minister of Public Enterprises, Pravin Gordhan to bring the nation into their confidence in relation to South African Airways (SAA).

The party wants provision of details of the negotiations that they are having with potential investors in SAA.

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According to DA both Ministers have maintained a wall of silence since they last made an undertaking to source the funds required to enable the SAA business rescue plan to be implemented.

“The resignation of Nico Bezuidenhout as CEO of Mango airline, a subsidiary of SAA, is another indication of the futility of the Les Matuson and Siviwe Dongwana R33 billion business rescue plans.

“That requires R10.4 billion cash just to get SAA, Mango and South African Airways Technical (SAAT) back into business,” said DA.

However, DA said a month after promising to raise the funding required in order to implement the SAA business rescue plan that was approved by creditors on 24 July 2020, there is no sign of these funds being made available.

In addition, they believe the resignation of Mango CEO after just 10 months in the job is a clear indication that he has no confidence in Gordhan and Mboweni being able to make the funds available for the so-called rescue of SAA.

“In terms of the Matuson/Dongwana SAA business rescue plan, R1 billion is required just to get Mango back in the air. Bezuidenhout’s resignation is a clear indication that he has no confidence in even the R1 billion for Mango to be made available by the Gordhan and Mboweni conjurers.”

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Meanwhile both Minister Mboweni and Gordhan muddle along with no apparent progress to find the required R10.4 billion, the employees of SAA, Mango and SAAT sit in limbo either not being paid salaries.

“They may be retrenched in order for them to be able to access the UIF retrenchment benefits that are due to them. A most cruel attitude displayed by very senior cabinet ministers,” the party said.

 

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