South African Airways (SAA) is in discussions with treasury for another cash injection of approximately R5 billion for the 2018/19 financial year. This emerged from submissions by SAA CEO Vuyani Jarana at a meeting of Parliament’s standing...
SAA will need government loan guarantees and bailouts up until 2021. The company remains heavily indebted and continues to bleed losses throughout its operational routes. That’s according to SAA CEO Vuyani Jarana, who was before parliament...
South African Airways (SAA) will receive a further R4.8 billion from government by March next year according to Finance Minister Malusi Gigaba. The 2017 Medium Term Budget Policy Statement (MTBPS) tabled on Wednesday states that government has...
Government has approved a R3 billion bailout for South African Airways (SAA) that will allow the airline to meet its debt obligations to Citibank, National Treasury said on Friday. “Government has approved the transfer of funds from the National...
South African Airways (SAA) plans to retire five aircrafts, reducing its flights by 23%, by the end of the year as part of a revamp aimed at getting the national carrier out of the red. According to a presentation by SAA executives submitted to...
Transport industry experts have slammed the government for giving the South African Airways a R5-billion guarantee, labelling as being the decision anti-competitive. The Treasury this week awarded the R5-billion guarantee to the ailing state-owned...
