SAA gets R4.8b in­jec­tion

Grocott's Mail - - MAKANA VOICES -

South African Airways will re­ceive a fur­ther R4.8 bil­lion govern­ment guar­an­tee by March next year.

The 2017 Medium Term Bud­get Pol­icy State­ment (MTBPS) tabled by Fi­nance Min­is­ter Malusi Gi­gaba on Wed­nes­day states that govern­ment is­sued a R19.1 bil­lion guar­an­tee fa­cil­ity to the air­line to en­sure it con­tin­ues to op­er­ate as a go­ing con­cern. The funds will be used for work­ing cap­i­tal and to set­tle debt, en­abling the air­line to re­duce in­ter­est ex­penses. Last week, Trea­sury an­nounced six new mem­bers to SAA’s board.


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