Jana Marais Deputy editor: Business Day
SAA CEO Vuyani Jarana. Picture: SUPPLIED
SAA CEO Vuyani Jarana. Picture: SUPPLIED

SAA, which has secured the R3.5bn it required from banks to continue financing working-capital requirements until June, has urged the government to make a speedy decision on future financial support.

The cash-strapped airline requested R21.7bn from the government in 2018 to recapitalise its balance sheet and provide working capital. This forms part of its three-year turnaround plan, which it said would see it break even by the 2020/2021 financial year. It suffered a R5.7bn loss in 2017/2018 and expects to lose another R5.2bn in the current financial year.  

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