SAA says R16-billion is for debt consolidation

South African Airways (SAA) published a notice in the newspaper asking for R16 billion finance proposals. This comes amid claims that SAA is running out of money and needs another government backed guarantee.

The Midday report's Stephen Grootes asked SAA spokesperson Tlali Tlali what the money was for.

There is a difference between government backed requirements on the one hand, and debt consolidation requirements on the other.

Tlali Tlali, SAA spokesperson

He describes these as "two separate, distinct, yet not completely unrelated processes.".

SAA has applied for a R4.7-billion government guarantee that Tlali says should enable the company to finalise it's 2014/15 annual financial statements.

The RFP referred to in the newspaper notice of R16-billion, is for debt consolidation, he explains.

He says the issue of Hong Kong threatening to dump the airline is being given full attention.

Listen to the full interview below:


This article first appeared on 702 : SAA says R16-billion is for debt consolidation


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