SAA gets R4.8b injection
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.