Bankrupt SAA gives millions in sports sponsorship

Die Vryburger

Bankrupt SAA gives millions in sports sponsorship
Bankrupt SAA gives millions in sports sponsorship - Image - Die Vryburger

SAA has not yet received the latest government rescue bailout to cover its loss of more than R200 million a month or to play Santa at the expense of taxpayers.

Despite the fact that SAA is technically bankrupt, the Springbok team is being sponsored with more than R67 million for airline tickets.

The national football team will now receive an R135 million sponsorship between 2016 and 2021.

This follows the announcement that Treasury will again provide SAA with an R 2,2 billion lifeline bailout to pay back a loan received from Standard Chartered Bank.

Economists say it seems that Treasury fails to oversee the necessary appropriation of funds advanced by them.

Read the original article in Afrikaans on Die Vryburger

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