South African Airways

South African Airways in Talks With Banks as Deadline Looms

Posted on by The Editorial Team
South African Airways in Talks With Banks as Deadline Looms

JOHANNESBURG (Capital Markets in Africa) – South African Airways is in talks with lenders about reviewing the terms of 9 billion-rand ($692 million) worth of loans due at the end of the month, and may have to tap government debt guarantees that are keeping the state-owned airline in operation. One bank has told SAA that it wants to be repaid by the end-June deadline, the Johannesburg-based carrier said Monday, without giving further details. Standard Chartered Plc refused…

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South African Airways May Test State Guarantees, Opposition Says

Posted on by The Editorial Team
South African Airways May Test State Guarantees, Opposition Says

JOHANNESBURG (Capital Markets in Africa) – South African Airways, the country’s state-owned airline, may be close to calling in 19.1 billion rand ($1.5 billion) in government debt guarantees after missing loan repayment dates, according to the Democratic Alliance, an opposition political party. The airline, which hasn’t made a profit since 2011, has 8.9 billion rand of debt payable in the 2018 fiscal year, the DA said, citing data from parliament’s Standing Committee on Finance. SAA…

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