Adriaan Kruger
3 minute read
30 Oct 2020
8:08 am

Where SAA got its R10.5bn from

Adriaan Kruger

All money comes from taxpayers, most of whom will never get within touching distance of an aircraft.

Picture: Neil McCartney

Finance Minister Tito Mboweni had, on several occasions, voiced his opposition to refinancing the bankrupt South African Airways (SAA), urging cabinet ministers that Treasury would find it difficult to find the R10.5 billion to restart the national airline. Eventually he had to yield to the consensus opinion of government and was ordered to scrape the funds together to restart the failed airline. A list of figures contained in the supporting documents to the Medium-Term Budget Policy Statement shows that it was indeed difficult to find the R10.5 billion, with Mboweni eventually having to shift even paltry amounts from other state...