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

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


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