South African commercial banks are basically prepared to help the instable SA Airways with R3.5bn as a lifeline.
The struggling airline needs the funds very urgently to meet his short-term obligations.
SAA’s Chief Executive Officer, Vuyani Jarana, says the amount is needed to maintain its operational duties until April.
Jarana, says it is clear that SAA is under “extremely difficult circumstances” and will not continue to function without the huge loan.
Meanwhile, ANC’s Cyril Ramaphosa, during his visit to India, said the SAA’s flights to the country should resume as well as the flights to the Emirates that were “stolen” from the SAA shipping company.
Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.