July 16, 2020 / 7:01 AM / 18 days ago

South African government commits to mobilise funding for SAA rescue - letter

JOHANNESBURG, July 16 (Reuters) - South Africa’s government commits to mobilising funding for the short, medium and long-term requirements of South African Airways (SAA), the public enterprises and finance ministries told the airline’s administrators in a letter seen by Reuters on Thursday.

The government had to provide a funding commitment to SAA’s administrators for a restructuring plan to work.

In the letter, signed by Public Enterprises Minister Pravin Gordhan and Finance Minister Tito Mboweni, the ministers said they acknowledged the funding requirements set out in the restructuring plan and were committed to mobilising funds for a viable and sustainable national airline. (Reporting by Alexander Winning Editing by Tanisha Heiberg)

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