Cash-strapped SAA is planning to raise R16-billion from banks and other financial institutions, according to a newspaper notice. SAA was seeking funding with a three- to 15-year duration and wanted to start drawing down the amount within two weeks of signing the loan agreement, the airline said in the notice published in the Sunday Times newspaper."Three drawdowns are envisaged starting end October," the airline said, adding that bidders could submit proposals for part or all of the required funding until September 16."SAA requires funding to meet its working and capital requirements as well as to consolidate its debt portfolio," the airline said.The airline's spokesman, Tlali Tlali, could not immediately comment.Hong Kong's tax authorities last week threatened to ground SAA planes if the national carrier did not provide financial statements by September6.The airline has failed to submit financial statements for the past two years, with results for 2015-2016 held back by the Treasury's refusal to grant the loss-making carrier R5-billion in additional guarantees.The DA called for a parliamentary meeting to work out how to prevent the airline from missing payments to creditors. ..