South Africa Says Banks Don’t Intend to Halt SAA Facilities
- Regular talks with lenders will continue until airline stable
- Treasury considering SAA request for going-concern guarantee
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Several lenders providing South African Airways, the country’s unprofitable state-owned airline, with short-term facilities that are not guaranteed have indicated they don’t plan to withdraw their funding, South Africa’s National Treasury said.
The government is in regular talks with lenders and these will “continue until the airline is stabilized,” the Pretoria-based ministry said in an e-mailed statement on Wednesday. “SAA is open for business and will remain so,” Finance Minister Pravin Gordhan said.