The nation’s beleaguered airline has breathing room until October 31 — Halloween, after which its debt demons may return to haunt it with a vengeance. It is understood that most of SAA’s lenders have agreed to roll over the outstanding debt that came due at the end of September for one more month while negotiations..
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No end to SAA’s nightmares
SAA cash crunch deepens as suppliers have still not been paid
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South African Airways (SAA) appears to have exhausted its available cash reserves following news that suppliers have still not been paid for work done in July. The airline has thirty-day terms with a number of suppliers that provide essential services to it. They had not been paid at the end of last week, a week..
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Gigaba lashes out against ‘hysteria’ over SAA bailout
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Finance Minister Malusi Gigaba has spoken out against what he termed hysteria that has been created around the options government is considering to recapitalise South African Airways (SAA). He was speaking at a briefing at Treasury following a meeting with the steering committee of the CEO Initiative on Friday. He emphasised that government is still..
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SAA to get R10bn bailout from sale of government stake in Telkom
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Cash-strapped SA Airways is to get a R10-billion bailout through the sale of the government’s multibillion-rand stake in Telkom, parliament was told on Wednesday. DA MP Alf Lees dropped the bombshell in the National Assembly during question time with Deputy President Cyril Ramaphosa when he presented a cabinet memorandum leaked to him as a member..
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ALERT: Passengers warned of SAA strike at OR Tambo International
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Cape Town – Passengers are being advised to remain in contact with South African Airways, as a strike by its technical crew is set to get underway. Management of OR Tambo International Airport says they are aware of a strike by technical crew of South African Airways (SAA) from Friday 4 August and is “closely..
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No support for Dudu at parliament’s portfolio committee
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The SAA board did not seem likely to support their chairman in parliament after it came to light that the airline suffered a loss of R4,683 billion in the last financial year. The entire board had to appear before the parliament’s portfolio committee, but eventually only chairman Dudu Myeni arrived. Apparently, independent aviation technicians have..
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