Carol Paton Writer at Large

SAA is on the brink after a day of intense interaction between the Treasury and the department of public enterprises on whether to give it one last lifeline or send it into business rescue or liquidation.

The interactions must be finalised in the coming days as the airline needs at least R2bn immediately to pay salaries and suppliers or it will have to cease trading. Commercial banks are willing to advance the money but only on receipt of a full loan guarantee from the Treasury.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.