Bailout
latest news & developments
Denel aims to be sustainable within five years, but needs a bigger cash injection
The parastatal has struggled with financial constraints for some time, partly blamed on wasteful expenditure and the inability to create revenue
No more bailouts for SAA
After 18 months under administration, the loss-making airline has been cleared for takeoff
Mango suspends new ticket sales ‘just to be safe’
Mango’s spokesperson would not disclose the low-cost airline’s debt — which led to a brief suspension of flights — but described it as ‘huge’
SAA snubs meeting with Scopa and Gordhan
MPs express frustration at the shoddy work done by the dysfunctional, broke airline and its rescue practitioners, calling their no-show ‘unacceptable’
Embattled SAA is set to receive balance of R10bn funding
Salary arrears owed to SAA staff will be paid by 19 February, and the public enterprises department commits to reskilling affected employees.
SAA bailout raises more questions
As the government continues to grapple with the troubles facing the airline, it would do well to keep on eye on the impending Denel implosion
Eskom set to get a fast-tracked R59-billion in the coming two years
The additional fiscal support comes as Eskom is weighed down by debt and is expected to report losses of R20-billion in upcoming financial results
Eskom burns on through bailout
Despite alarm over the recent lifeline, state says the power utility is not on the brink of collapse
Edcon clears the first hurdle
Edcon chief executive Grant Pattison and his team achieved what many critics doubted they could — secure an almost R3-billion lifeline
Shaking up Eskom matters for South Africa’s economy
Given the damage that’s been done, the previous board at Eskom simply could not continue. It had no plan to turn the company around or stop corruption
Treasury announces SAA bailout to settle R2.3bn debt
Government officials have moved to transfer an undisclosed sum from the National Revenue Fund to South African Airways
IRR urges lawmakers to assist poverty-stricken prisoners
Over 7000 detainees, who are yet to be convicted of a crime, are currently held in South African jails because they cannot afford to pay bail.
International investors still seek Eskom bonds despite its financial woes
Foreigners are hungry for high returns, as seen in their demand for the power utility’s bonds at its latest international sale.
Bailout vote decides Cyprus’s eurozone fate
Cyprus’s Parliament will vote on a bailout imposed by the EU, with approval likely from a thin majority against calls for the island to exit the euro.
EU meet to finalise Cyprus bailout
Eurozone and EU finance ministers will meet in Dublin to conclude a Cyprus bailout and consider extending debt repayments for Portugal and Ireland.