August 4, 2017 / 7:51 AM / 18 days ago

South Africa's national airline says needs 13 billion rand to avert crisis

CAPE TOWN, Aug 4 (Reuters) - South Africa's state-owned airliner says it will face a liquidity crisis if it does not receive a 13 billion rand ($976 million) cash injection from the Treasury to meet its debt obligations and cover operating costs, it said on Friday.

South African Airways (SAA) said in a financial plan presented to parliament that its modelling showed it was not generating enough cash but that it would turn a profit by 2019 on an EBITDA basis.

The airline also said debt maturities had been negotiated and extended to the end of September this year.

$1 = 13.3675 rand Reporting by Wendell Roelf; Writing by Mfuneko Toyana; Editing by James Macharia

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