{"id":84619,"date":"2020-06-18T17:14:05","date_gmt":"2020-06-18T07:14:05","guid":{"rendered":"https:\/\/worldofaviation.com\/?p=84619"},"modified":"2021-03-03T18:24:50","modified_gmt":"2021-03-03T07:24:50","slug":"south-african-government-falters-on-saa-restructuring","status":"publish","type":"post","link":"https:\/\/worldofaviation.com\/2020\/06\/south-african-government-falters-on-saa-restructuring\/","title":{"rendered":"South African government falters on SAA restructuring"},"content":{"rendered":"<figure id=\"attachment_84620\" aria-describedby=\"caption-attachment-84620\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-post-84619 wp-image-84620 size-large\" src=\"https:\/\/worldofaviation.com\/wp-content\/uploads\/2020\/06\/airbus-a330-300-south-african--1024x578.jpg\" alt=\"\" width=\"1024\" height=\"578\" srcset=\"https:\/\/worldofaviation.com\/wp-content\/uploads\/2020\/06\/airbus-a330-300-south-african--770x420.jpg 1024w, https:\/\/worldofaviation.com\/wp-content\/uploads\/2020\/06\/airbus-a330-300-south-african--300x169.jpg 300w, https:\/\/worldofaviation.com\/wp-content\/uploads\/2020\/06\/airbus-a330-300-south-african--150x85.jpg 150w, https:\/\/worldofaviation.com\/wp-content\/uploads\/2020\/06\/airbus-a330-300-south-african--768x433.jpg 768w, https:\/\/worldofaviation.com\/wp-content\/uploads\/2020\/06\/airbus-a330-300-south-african--770x420.jpg 1170w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-84620\" class=\"wp-caption-text\">South African Airways Airbus A330-300 (Australian Aviation archives)<\/figcaption><\/figure>\n<p>The South African government has addressed a long-awaited rescue plan for the country\u2019s flag carrier, which calls for as much as US$580 million in fresh bailout funding.<\/p>\n<p>Released by SAA&#8217;s administrators in recent days, the blueprint looks to turn the tide for the cash-strapped airline, which entered administration in late April following a decade of losses.\u00a0At the time, Reuters reported that the airline offered severance packages to its workforce of roughly 5,000 people, after the central government said that it would not provide more funds for rescue efforts.<\/p>\n<p>However, government officials have expressed doubt as to whether the plan will be enough to create &#8220;a viable and sustainable national carrier&#8221;, stating that the restructuring plan &#8220;may not have been adequately accomplished&#8221;.<\/p>\n<p>The opposition Democratic Alliance (DA) was even more critical of the plan, likening the airline to \u201ca bankrupt black hole\u201d.\u00a0 The DA has urged Finance Minister Tito Mboweni to oppose the plan, and has pressed the government to abandon the state-owned airline entirely.<\/p>\n<p>\u201cWe are of the view that it violates the <em>Competition Act<\/em>, as the airline will get an unfair competitive advantage over the other South African airlines,\u201d said a spokesperson for the DA.<\/p>\n<p>\u201cOf the limited options left for SAA, another bailout must not be on the list.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The South African government has addressed a long-awaited rescue plan for the country&#8217;s flag carrier, which calls for as much as 10bn rand ($580m USD) in fresh bailout funding.<\/p>\n","protected":false},"author":2729,"featured_media":84620,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_cloudinary_featured_overwrite":false,"footnotes":""},"categories":[6,9],"tags":[1379,1849,1921,999],"_links":{"self":[{"href":"https:\/\/worldofaviation.com\/wp-json\/wp\/v2\/posts\/84619"}],"collection":[{"href":"https:\/\/worldofaviation.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/worldofaviation.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/worldofaviation.com\/wp-json\/wp\/v2\/users\/2729"}],"replies":[{"embeddable":true,"href":"https:\/\/worldofaviation.com\/wp-json\/wp\/v2\/comments?post=84619"}],"version-history":[{"count":1,"href":"https:\/\/worldofaviation.com\/wp-json\/wp\/v2\/posts\/84619\/revisions"}],"predecessor-version":[{"id":89551,"href":"https:\/\/worldofaviation.com\/wp-json\/wp\/v2\/posts\/84619\/revisions\/89551"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/worldofaviation.com\/wp-json\/wp\/v2\/media\/84620"}],"wp:attachment":[{"href":"https:\/\/worldofaviation.com\/wp-json\/wp\/v2\/media?parent=84619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/worldofaviation.com\/wp-json\/wp\/v2\/categories?post=84619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/worldofaviation.com\/wp-json\/wp\/v2\/tags?post=84619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}