While the airline is required to present its financials by the end of the month, it cannot do so as it’s technically bankrupt. A report in The City Press on Sunday documents the massive financial problems of state-owned airline South African Airways (SAA). According to the report, SAA’s debt is currently R15 billion more than..
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Fraud and theft behind SAA bankruptcy – SAA’s debt is currently R15 billion more than its assets, and banks will no longer lend the airline any money
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