South African Airways should be shut down, says Mboweni

South Africa’s finance minister said the nation’s troubled flag-carrier should be shut down, casting doubt on President Cyril Ramaphosa’s stated goal of saving what was once Africa’s biggest airline.

South African Airways “is lossmaking, it’s unlikely to sort out the situation, in my view we should close it down”, said Tito Mboweni, an outspoken former central bank governor, at an event with investors in New York on Thursday.

The closure of SAA would be a powerful admission by Mr Ramaphosa’s government that it cannot save one of South Africa’s highly indebted state-owned companies, which are critical to the economy.

Since coming to power Mr Ramaphosa has promised to revive several state-owned groups that were beset by alleged waste and corruption during the presidency of…

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