SAA bailout; SA Express could be sold - Tito Mboweni

Finance Minister Tito Mboweni announced in his medium term budget speech in Parliament that the government was talking with potential investors for South African Airways in an attempt to ease the burden that the airline is placing on the national budget. Mboweni said the government will repay loss-making SAA’s outstanding government-guaranteed debt of R9.2bn over the next three years. He said there needed to be a serious conversation in the months to the next budget in February and it should include a consideration of what to do with the state owned enterprises. The minister was also asked about how he thought the ratings agencies would view his budget. - Linda van Tilburg