SAA gets R6.5bn loan from treasury

2015-01-22 11:51

South African Airways will be provided an additional R6.5 billion in state guarantees, taking funding pledges to R14.4 billion, according to the national treasury.

SAA is technically bankrupt and surviving off state-guaranteed loans as an aging fleet and unprofitable long-haul routes contribute to heavy losses. The airline presented a 90-day rescue strategy to the government last year that includes R1.3 billion in annual savings. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.