National Treasury drafts Appropriation Bill
JOHANNESBURG - National Treasury has drafted a special Appropriation Bill to recapitalise SAA.
The department is hoping that the draft legislation can come before Parliament before it goes on recess.
An Appropriation Bill authorises the expenditure of government funds.
The national carrier will need more than R1billion in working capital until March 2018.
Earlier this year, Treasury bailed out SAA with R2.2 billion to pay Standard Charter.
Treasury’s director-general on Wednesday told Parliament that the airline is in continuous negotiations with Citi Bank and other lenders to get loans extended. eNCA