in Business & Finance

South African Minister of Finance approves disbursement for SAA

Posted 19 September 2016 · Add Comment

South African Minister of Finance, Pravin Gordhan, has approved the disbursement of a ZAR5 billion (USD351 million) state-backed guarantee to struggling carrier, South African Airways (SAA), reports ch-aviation.

 

The move will allow the loss-making carrier to finalise its 2015/16 accounts and retain its status as a going concern.

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