Posted by: APO | 3 July 2017

Media Statement: The Recapitalisation of the South Africa Airways

Government has decided to transfer funds from the National Revenue Fund to South African Airways to allow the airline to pay back its debt to Standard Chartered Bank thereby avoiding a default. This payment was done in terms of section 16 of the Public Finance Management Act. This section of legislation states that the Minister can authorise the use of funds to defray expenditure of an exceptional… Read more on https://africa-newsroom.com/press/media-statement-the-recapitalisation-of-the-south-africa-airways?lang=en


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