Reuters logo
South Africa's govt. bails out state airliner SAA to avoid default
July 1, 2017 / 2:08 PM / 6 months ago

South Africa's govt. bails out state airliner SAA to avoid default

JOHANNESBURG, July 1 (Reuters) - South Africa’s government on Saturday said it had transferred an undisclosed amount to South African Airways for the state carrier to pay back loans of about 2.3 billion rand ($176 million) to lender Standard Chartered.

This week the Treasury said that around 9 billion rand of debt was maturing at month-end, with around 6 or 7 lenders involved. ($1 = 13.0476 rand) (Reporting by Mfuneko Toyana Editing by Jeremy Gaunt.)

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