{"id":417737,"date":"2020-07-20T07:49:25","date_gmt":"2020-07-20T05:49:25","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=417737"},"modified":"2020-07-20T07:49:25","modified_gmt":"2020-07-20T05:49:25","slug":"saa-could-adopt-telkom-model-of-governance-report","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/417737\/saa-could-adopt-telkom-model-of-governance-report\/","title":{"rendered":"SAA could adopt Telkom model of governance: report"},"content":{"rendered":"<p>Public Enterprises minister Pravin Gordhan says that the government would consider a shareholder structure similar to Telkom, for South African Airways.<\/p>\n<p>Telkom runs independently from the government, despite it having a 37% stake in the listed entity, while state-owned Public Investment Corp holds approximately 15%. The rest is owned by institutional investors and the public.<\/p>\n<p>\u201cTelkom is an interesting model that we could actually look at as we go forward,\u201d Gordhan reportedly said to eNCA.<\/p>\n<p>The National Treasury last week committed to support and source funding for the airline&#8217;s new business rescue plan.<\/p>\n<p>It is projected that R10.1 billion will be required to fund the plan. This money will be used to:<\/p>\n<ul>\n<li>Clean up and establish the balance sheet;<\/li>\n<li>Restructure the rest of the group entities that are not in business rescue;<\/li>\n<li>Provide working capital for the rest of the group\u2019s entities;<\/li>\n<li>Create a stable and viable platform for a new restructured national airline.<\/li>\n<\/ul>\n<p>The restructuring will also include severance packages to about 2,700 SAA employees who will be retrenched, the Department of Public Enterprises said.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/government\/416177\/saa-2-0-gets-the-green-light\/\" target=\"_blank\" rel=\"noopener noreferrer\">SAA 2.0 gets the green light<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Public Enterprises minister Pravin Gordhan says that the government would consider a shareholder structure similar to Telkom, for South African Airways.<\/p>\n","protected":false},"author":10,"featured_media":283004,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[26,1675,65],"class_list":["post-417737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-headline","tag-saa","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/417737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=417737"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/417737\/revisions"}],"predecessor-version":[{"id":417781,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/417737\/revisions\/417781"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/283004"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=417737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=417737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=417737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}