Too much weight for SAA
30 November 2015 - 02:13
SAA is too deep in debt. In February, Nico Bezuidenhout revealed the carrier had a negative equity of 13%. In other words, the market value of its assets covered only 87% of its debt.Furthermore, as SAA incurred a loss of R2.5-billion in the last financial year, it has had to borrow at a much higher cost than previously.
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