South Africa Defends Airline Bailout As State Seeks Partners

South Africa’s National Treasury has defended a controversial 10.5 billion rand ($641 million) lifeline for its bankrupt national airline, saying that setting it on the path to recovery will entice private investors.

“Government is not going to want to hold on to South African Airways at all costs,” Treasury Director-General Dondo Mogajane said in an interview after the bailout was announced on Wednesday. “If that means giving up the majority shareholding, that will happen.”

While the…

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