STATE-OWNED ENTERPRISES
Former South African finance minister, Trevor Manuel, said on Tuesday that government bailouts would not help the country’s state-owned airline to escape its troubles, insisting that South African Airlines (SAA) needed to get serious about its corporate governance. This comes after the South African government on Friday approved the transfer of R3 billion in funds from the National Revenue Fund (NRF) to troubled carrier SAA to allow the airline to meet its debt obligations to Citibank and avoid a default.
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