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Treasury aware Citigroup cancelled SAA's credit facility

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The original Airbus deal was struck in 2002. Picture: Brendan Croft/ Gauteng Foto24
The original Airbus deal was struck in 2002. Picture: Brendan Croft/ Gauteng Foto24

Johannesburg - South Africa’s National Treasury is aware that Citigroup cancelled a credit facility for the country’s national airline and is working with South African Airways (SAA) to ensure the company has enough liquidity to continue operating, Treasury spokesperson Phumza Macanda said by phone on Monday.

Citigroup on December 24 cancelled a R250m short-term banking facility for SAA, leaving the airline without cash, Johannesburg-based Moneyweb reported, citing an internal document of the national carrier.

The lender won’t reinstate the facility without a government guarantee, the website said.

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