Treasury approves SAA bailout
343 views · Published 29 September 2017 · 1:12 · Indexed 22 September 2026
Channel: SABC News · 2017 · News & Politics
Treasury has approved the transfer of funds from the National Revenue Fund to SAA. This is to allow the airline to address its debt obligations to Citibank, thereby avoiding a default. The national carrier was given until tomorrow to settle it's R3 bn debt with Citibank or risk a possible loan recall. In a statement, treasury says funds will also be used to assist SAA with its immediate working capital requirements. For more news, visit: http://www.sabc.co.za/news
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