The National Treasury has just announced that it has committed R300m to drag the bankrupt SA Express airline of its financial difficulties.
SA National Treasury gives SA Express a R300 million bailout
#ParasiticParastatal – SA Express is just another bottomless pit swallowing taxpayers’ money
It is disturbing to realise that recently another enormous lifeline was quietly given to SA Express while all the attention was on Eskom, the SAA and the SABC. According to the Free Market Foundation, SA Express received a lifeline of R1,24 billion from the government in November last year and was now given government guaranteed financing amounting to R300 million.
It seems that the Free Market Foundation forced SA Express by means of the Promotion of Access to Information Act to disclose its financial statements and managerial account data.
SA Express has become a large hole draining tax money from the fiscus dam and if it continues in this way, it will drain everything until there is nothing left. The ANC will have to realise at some point that the country does not have an inexhaustible source of money and that public enterprises cannot be saved from financial ruin indefinitely.
Like with e-toll, taxpayers will get to a point where they will n
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