SAA needs 13 billion rand to avert crisis

Posted: August 4, 2017 in general

South African AirwaysSouth Africa’s state-owned airliner says it will face a liquidity crisis if it does not receive a 13 billion rand (976million dollars) cash injection from the Treasury to meet its debt obligations and cover operating costs, it said on Friday.

South African Airways (SAA) said in a financial plan presented to parliament that its modeling showed it was not generating enough cash.

However, it said that it would turn a profit by 2019 on an EBITDA basis.

The airline also said debt maturities had been negotiated and extended to the end of September this year.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s