India/SA Business Summit
SAA CEO says banks have agreed on R3.5bn lifeline in principle
Commercial banks have in principle approved R3.5bn of the funding SA Airways (SAA) requires to keep operating until April, according to CEO Vuyani Jarana.
Speaking on the sidelines of the India/SA Business Summit in New Delhi at the weekend, Jarana said he sees “no reason why” the government and the banks won’t continue to back the airline as it has been delivering on the targets it has set.
“They can see we are executing under very difficult conditions.”
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