The proposal for a $1.2 billion state bailout of South African Airways which was leaked over the weekend is a starting point for discussion and to assume it is the final version is “very irresponsible”, said the airlines administrators Deloitte. In return for the loan the  draft proposal would see the South African government set-up a new company controlled by the Department of Public Enterprises (DPE). The new company would assume all of SAA ‘s  assets while the DPE take on the costs of setting-up as well as assuming the firm’s existing debt. However in a statement on SAA’s website Deloitte’s joint

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