‘Sinking’ SAA borrows another R3,5 bill hoping to survive until March 2019

Die Vryburger

‘Sinking’ SAA borrows another R3,5 bill hoping to survive until March 2019
'Sinking' SAA borrows another R3,5 bill hoping to survive until March 2019. Photo: Die Vryburger

SAA has entered into a further R3.5 billion loan to keep the “sinking” entity in the sky until the end of March 2019.

A further R15.2 billion is apparently needed further within the next three years. However, there is no expectation that the airline will even show a profit by 2021, with the result that the taxpayer will be paying for another three years with all that money thrown into this bottomless pit.

Economic experts have expressed doubts as to whether the bankrupt airline company will ever be back on its feet while poor governance and corruption continue.

Read the original article in Afrikaans on Die Vryburger

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