The South African government has agreed to guarantee ZAR5 billion ($600 million) in loans for South African Airways for two years.
The South African government has agreed to guarantee ZAR5 billion ($600 million) in loans for South African Airways for two years. The guarantee will enable the financially troubled carrier to borrow from the financial markets, continuing operations. According to a government statement, the SAA board must develop a turnaround strategy to be approved by the Minister of Public Enterprises in agreement with the Minister of Finance, including a financing strategy for its planned purchase of ...
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