The National Treasury has been working closely with South African Airways (SAA) to ensure that the airline has the cash it needs to meet its obligations when they fall due.

Steps taken include:

  • repatriating funds from overseas
  • efforts to secure further short-term bridging facilities. Of the R14.4 billion in guarantees extended to SAA, the airline has R2 billion it has not utilised, which can be tapped for additional financing.

To read the full release, click here.