SAA secures R3.5bn loan to keep operating until March
South Africans Airways says it has secured the R3.5bn loan it needed to keep operating until the end of the financial year in March, providing temporary relief for the cash-strapped airline.
The loss-making flag carrier, which is battling cash flow challenges, is implementing a three-year turnaround strategy and has said it needs a total of R21.7bn in loans over the same period.
SAA spokesperson Tlali Tlali told Fin24 on Tuesday that the R3.5bn, which has been secured from local lenders, was part of the R21.7bn funding requirement.
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