The bankrupt airline SAA needs R16,7 billion from government or that government provide guarantees for a loan for that amount by March 2019 if they want to stay in the industry.
The astonishing begging came from SAA’s executive management who informed parliament about the dire situation in which the airline company finds itself due to the poor management at SAA.
Of the billions of Rand being begged for, R3,5 billion will be required in December and R4 billion must be provided by March for refinancing the R9,3 billion of debt.
Along with the R5 billion already allocated in October 2018, the airline owes R21,7 billion and expert say they will never be able to pay back.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
