Government will provide initial funding to cover certain restructuring costs for SAA, says Minister of Public Enterprises Pravin Gordhan. SAA needs about R10.5 billion to restart - for workers severance packages, to pay creditors and cover operational costs. The South African government will provide initial funding to cover certain restructuring costs for South African Airways, said Minister of Public Enterprises Pravin Gordhan. Funding is needed for workers severance packages, to pay creditors and cover operational costs, the minister said in response to questions from Bloomberg News. However, a "reprioritisation" of funds in the 2020 budget could be implemented to cover the restructuring costs, according to Gordhan.

Source: Ethiopian News September 19, 2020 15:00 UTC