Treasury agrees, in principle, to substantial capital injection for SAA

The National Treasury on Wednesday announced it had agreed, in principle, to a substantial capital injection into troubled South African Airways (SAA); however, it could not confirm the amount or timeline for the capital injection. Treasury confirmed in the National Budget that, during 2017/18, government will provide some financial support to SAA “in a manner that does not increase the budget deficit” and supports a comprehensive turnaround strategy that aims to breathe new life into the lossmaking national airline.