NATIONAL NEWS - New South African Airways (SAA) CEO Vuyani Jarana says the national airline’s outstanding debt stands at R13.8 billion as of this month.
It's debt exposure in April was R16 billion.
Jarana says SAA will still be about R9 billion in the hole even after the government’s R10 billion bailout is fully paid by the end of March next year.
Jarana and members of the new board are briefing Parliament’s Standing Committee on Finance for the first time.
Jarana says that the airline is exposed to debt of nearly R14 billion as of this month and is due to pay a further R4 billion to Citibank and domestic lenders in March.
Jarana’s at the helm of efforts to position SAA to trade itself out of the quagmire it is in.
'SAA's outstanding debt at R13.8 billion'
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New South African Airways (SAA) CEO Vuyani Jarana says the national airline’s outstanding debt stands at R13.8 billion as of this month.
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Posted on: 12:36 Wed, 29 November 2017
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