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Broke SAA ‘is being drip-fed’ by banks

Broke SAA ‘is being drip-fed’ by banks
Source: businesslive.co.za
Date: 08-08-2019 Time: 02:08:33:pm

Local banks are continuing to drip-feed state-owned entities (SOEs) with credit to help keep them on their feet despite difficulty in holding them to repayment commitments.

SAA is in negotiations with a consortium of banks to access the R4bn it requires for working capital for the 2019/2020 financial year. Without this funding the airline will be unable to continue operations.