“Sell SAA already!” Maimane tells Gigaba his plan to save bankrupt airline

The Democratic Alliance and Mmusi Maimane have come up with a plan to save South African Airways. Do you think the ANC will listen?


Mmusi Maimane and his party have publically released their plan to save South African Airways (SAA). How? Put it into business rescue and sell it as soon as possible.

Maimane was speaking to journalists during a briefing on Thursday, two days before the deadline for SAA to find the money to pay back a Citibank loan. The DA leader says it’s time for Finance Minister Malusi Gigaba to take different action.

 “SAA is insolvent, it is bankrupt and we hold a view that it should be sold off as soon as practically possible,” he told journalists at a briefing in Johannesburg on Thursday.

“Recovery plans have followed turnaround strategies, all yielding further losses. It is clear that national government is hell-bent on hanging onto the beleaguered airline — no matter the cost to the country and its people.”

The Citibank loan amounts to a whopping R1.8 bn, the bank is now the second bank to refuse to extend its loan with SAA.

While treasury this week denied that there were plans to use the Public Investment Corporation (PIC) for funds, Maimane wants to see a copy of the PIC’s due diligence report on SAA.

“The contents of this report may be the clearest indication yet of the true state of SAA, and the DA believes the report should be released for public scrutiny.”

The DA’s official Twitter account went into the finer details of the DA’s pan, including how to help SAA workers.

Maimane then launched an attack on Gigaba and SAA chairwoman Dudu Myeni. He said both had breached the constitution.

“Government has already extended R19.1bn in guarantees — meaning that nearly R35bn of ordinary South Africans’ hard-earned money has been dedicated to keeping SAA in business,”

With countless bailouts seemingly being wasted by SAA, will government give the airline and its dodgy leadership even more money?