The Development Bank of South Africa (DBSA) has given South African Airways (SAA) a lifeline to stay in the sky. It has granted the national carrier R3, 5bn with R2bn upfront.

SAA has been in the red for the longest of times. The National Treasury had to intervened on innumerable occasions to finance it out of trouble with no success to change its fortunes.

In December 2019, SAA canceled some flights to due to financial distress that saddled the state-owned enterprise. The minister of finance bandaid about the sale of some assets to ease its financial distress.

The terms and conditions of the DBSA rescue funds are hidden away from the public, the main shareholders. Yet, all their taxes are likely to be squandered on the airline willy-nilly.

Professor of Economics and Head of School of Economics and Business Sciences Jannie Rossouw said on Newzroom Africa on Thursday Jan. 29, 2019:

The DBSA R3. 5bn amount looks like a bailout repackaged in another way. It is better to close this (SAA) chapter in the history of South Africa. This loan is a first step in a dangerous slippery slope. The public does not know the terms and conditions of this (DBSA) transaction. Although it accounts to the public, there is no transparency.

For the time being, SAA will plod ahead as as it always does, pouring out public funds in the bottomless hole without any tangible return.

The next financial year comes and it will be business as usual. That is, it will beat the path to the treasury with a begging bowl to keep SAA aircrafts afloat. And the circus will lead in perpetuity.