Reuters logo
S.Africa national airline's debt at 13.8 bln rand, losses to widen-executives
November 29, 2017 / 8:55 AM / 14 days ago

S.Africa national airline's debt at 13.8 bln rand, losses to widen-executives

CAPE TOWN, Nov 29 (Reuters) - South African Airways (SAA) has outstanding debt of 13.8 billion rand ($1.01 billion) as of this month, the chief executive of the state-run national airline, Vuyani Jarana, told parliament’s finance committee on Wednesday.

Jarana also said the airline needed to pay back domestic lenders and U.S. bank Citi 4 billion rand by March 2018.

Chief financial officer Phumeza Nhantsi said SAA’s losses for 2017/18 were forecast to widen to 4 billion rand from a previous estimate of 2.8 billion rand. ($1 = 13.6300 rand) (Reporting by Wendell Roelf; Writing by Alexander Winning; Editing by Ed Stoddard)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below