BREAKING: SAA gets another multi billion bailout from government

SAA has received yet another last-minute bailout from National Treasury, this time, to pay back billions of debt.


Colossally bankrupt South African Airways has once again been granted a multi-billion bailout from National Treasury. The funds for the bailout will be coming from the National Revenue Fund.

Friday was the last day for SAA to pay back a R1.8 billion loan to Citibank, if the loan was not repaid by the end of September, it would mean that all other creditors would come calling for SAA to repay their loans too.

SAA has R6.9 billion in debt maturing at the end of September.

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