Cabinet ministers face off over whether SAA lives or dies
The urgent meetings, which involve Tito Mboweni and Pravin Gordhan, must consider whether or not to extend a guarantee
27 November 2019 - 16:28
UPDATED 27 November 2019 - 18:16
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...
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