Bill allowing R2.7bn of SAA money for its subsidiaries finally comes into effect

The original article can be found here.

Article highlights:

• There is finally some light at the end of the tunnel for the embattled subsidiaries of SAA. A Special Appropriations Bill – which provides them a lifeline – has come into effect;
• The bill provides R1.663 billion for SAA Technical (SAAT), R819 million for Mango Airlines and R218 million for Air Chefs. Although SAA’s subsidiaries were not put in business rescue, the fact that their parent company was, exacerbated their own financial challenges;
• Most of Air Chefs’ business used to come from SAA. When SAA stopped flying, Air Chefs lost that income.