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Date published 17.07.2017

THE GOVERNMENT is to recapitalise South African Airways by next month and will appoint a new permanent CEO before the end of this month, Finance Minister Malusi Gigaba said last week. The developments are part of a broader plan by the government to stimulate economic growth.

The announcement also signals the government’s intention to continue supporting SAA as a strategic asset, no matter what the cost to the taxpayer, despite saying the Treasury would present a plan by October to reduce the issuance of guarantees to lenders.

Another five-year turnaround plan for the airline would be finalised and put into effect in December 2019, said the minister.

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