Finance Minister Pravin Gordhan has conditionally approved an application from the cash-strapped national airline for a guarantee as a going concern, the ministry said on Friday. South African Airways (SAA) has been surviving on state-guaranteed loans and has failed to submit financial statements for the past two years, with results for 2015/16 held back after the Treasury refused to grant it R5-billion ($346-million) in additional loan guarantees.
Source: www.engineeringnews.co.za
Gordhan approves ‘going concern’ guarantee for national airline
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