SAA gets another multi billion bailout from government

A section for the latest news in aviation.
Post Reply
User avatar
four engine jock
Engine Run Up Poster
Posts: 339
Joined: Fri Feb 10, 2012 12:00 am
Location: My Office
Cuba

SAA gets another multi billion bailout from government

#1

Post by four engine jock » Fri Sep 29, 2017 2:59 pm

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.

https://www.thesouthafrican.com/breakin ... overnment/



User avatar
Raffles
Site Admin
Posts: 3686
Joined: Tue Feb 07, 2012 12:00 am
Location: Die K@K Plaas
Burkina Faso

Re: SAA gets another multi billion bailout from government

#2

Post by Raffles » Fri Sep 29, 2017 3:54 pm

Anyone who votes for cANCer is equally complicit in the destruction of the country.



Post Reply