SAA funding crisis grows by R2-billion
02 October 2016 - 02:03
The National Treasury's R4.7-billion government guarantee was more than R2-billon rand short of SAA's funding requirements, an internal SAA memo has shown. As the embattled airline's new board said on Friday that SAA needed a cash injection over and above the latest going-concern guarantee, Business Times has established that SAA's treasury said in August that its funding gap had increased from R4.
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