A new bailout for SAA

The South African government is reported to be considering bailing out South Africa Airways (SAA) to the tune of R10 billion, approximately $757 million, with the sale of its 39% stake in telecommunication provider, Telkom. Treasury spokesman Mayihlome Tshwete told reporters that this was one option under consideration and stated that nothing had been finalised. Minister of Finance Malusi Gigaba plans to disclose the final financing option for SAA at the medium-term budget statement in October. Despite continuing losses, the government is determined to save SAA seemingly at any cost, since credit rating agencies have warned that a R10 billion