What will Government do now that Citibank cancelled SAA’s loan facility?

Citibank has cancelled a R250 million loan facility to state-owned South African Airways (SAA), Treasury said on Monday.

This is the latest blow to the cash-strapped airline at the centre of a political storm.

How is this forcing Government’s hand?

The Money Show’s Bruce Whitfield interviewed Guy Leitch, Editor and Publisher at SA Flyer Magazine.

Scroll down for quotes from the audio below.

We haven’t seen any financials from SAA since 2014.

Guy Leitch, Editor and Publisher at SA Flyer Magazine

Citibank has a good insight into the financials of SAA.

Guy Leitch, Editor and Publisher at SA Flyer Magazine

The implications are profound.

Guy Leitch, Editor and Publisher at SA Flyer Magazine

Acsa as a parastatal will look more favourably at SAA. The smaller airlines are having a harder time.

Guy Leitch, Editor and Publisher at SA Flyer Magazine

FlySafair is doing very well, and it started only a few months before Skywise.

Guy Leitch, Editor and Publisher at SA Flyer Magazine

Mango and Comair is doing very well.

Guy Leitch, Editor and Publisher at SA Flyer Magazine

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : What will Government do now that Citibank cancelled SAA’s loan facility?


CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
EOH CEO Zunaid Mayet explains why the share price tanked

EOH CEO Zunaid Mayet explains why the share price tanked

The Money Show’s Bruce Whitfield interviewed Mayet.

'This puts pressure on Jacob Zuma to vacate office earlier'

'This puts pressure on Jacob Zuma to vacate office earlier'

The Money Show’s Bruce Whitfield interviews Daniel Silke, Political Economy Analyst at Political Futures Consultancy.

Learn how to code, for free! Meet WeThinkCode_’s Arlene Mulder...

Learn how to code, for free! Meet WeThinkCode_’s Arlene Mulder...

Interested in attending a free, two-year course in computer programming? Bruce Whitfield interviews the cofounder of WeThinkCode_.

How Futuregrowth Asset Management dodged the Steinhoff bullet

How Futuregrowth Asset Management dodged the Steinhoff bullet

The Money Show’s Bruce Whitfield interviews Futuregrowth Asset Management Chief Investment Officer Andrew Canter.

Predictably awesome new Nando's ad reminds South Africans ‘we can fix our sh$t’

Predictably awesome new Nando's ad reminds South Africans ‘we can fix our sh$t’

Watch the Guptas pack their bags and run in Nando's inspiring new advertisement.

Best age to sell or trade your car in

Best age to sell or trade your car in

What is the optimal time to sell a car? While it’s still worth a bit? When the doors fall off? Before the service plan runs out?

Popular articles
Predictably awesome new Nando's ad reminds South Africans ‘we can fix our sh$t’

Predictably awesome new Nando's ad reminds South Africans ‘we can fix our sh$t’

Watch the Guptas pack their bags and run in Nando's inspiring new advertisement.

PSG Chair Jannie Mouton opens up (kind of) about Steinhoff

PSG Chair Jannie Mouton opens up (kind of) about Steinhoff

In 2012 Steinhoff acquired 20% of wealth manager PSG, reportedly infuriating Mouton. Bruce Whitfield interviews him.

[LISTEN] Sara-Jayne King overjoyed at finding her biological father

[LISTEN] Sara-Jayne King overjoyed at finding her biological father

After a 702/ CapeTalk interview, the author of the autobiographical book Killing Karoline spoke to her dad for the first time.

[LISTEN] Caller challenges Eusebius on land disposition

[LISTEN] Caller challenges Eusebius on land disposition

‘I need you to provide me with an answer' - John from Edenvale, Gauteng

Number of South Africans visiting the seaside has dropped

Number of South Africans visiting the seaside has dropped

Fedhasa's CEO is encouraging South Africans to take a look at the specials that are currently out there and make their bookings.

How businessman Max Lichaba struck gold with his jewellery company

How businessman Max Lichaba struck gold with his jewellery company

Entrepreneur Max Lichaba built his own empire and is the CEO of Lichaba Creations and several other businesses. This is his story.