Broke SAA ‘is being drip-fed’ by banks
But banks are cautious and have told the airline and government that the money will be advanced in tranches
Local banks are continuing to drip-feed state-owned entities (SOEs) with credit to help keep them on their feet despite difficulty in holding them to repayment commitments.
SAA is in negotiations with a consortium of banks to access the R4bn it requires for working capital for the 2019/2020 financial year. Without this funding the airline will be unable to continue operations.