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SAA chief upbeat on meeting R9bn loan obligations
South African Airways (SAA) is due to pay back R9bn to its lenders by the end of June, with one lender of an unspecified amount having said it wants to have its loan paid back, the airline said on Monday. Musa Zwane, acting CEO of the struggling state-owned airline, said he was optimistic that SAA would meet its loan obligations as these became due through negotiations with lenders and other initiatives. If it were unable to pay back a loan, it would have to make a call on its government guarantee that now totals R19.1bn and Treasury would have to cough up. "SAA has been in contact with its lenders to renegotiate the management of its loans, a normal occurrence when loans become due and payable. Engagements with lenders remain sensitive and confidential and it would be unwise to share salient details with third parties," Zwane said. "The renegotiation of the terms of the loans are ongoing and SAA is optimistic that the airline will continue to operate, honour its obligations to its ...
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