[LISTEN] What's happening to SAA may be the beginning of the end

There are still questions being asked over the decision by National Treasury to bailout South African Airways (SAA) with R2 billion.

Standard Chartered Bank declined to extend the airline's repayment.

Treasury announced on Saturday that it will transfer funds to allow the airline to payback its debt.

READ: Concerns raised over SAA's R2.3 billion bailout

ALSO READ: SAA marred by lack of good governance says analyst

Guy Leitch, Editor of FlySA Magazine, says the bank's refusal to roll over the debt may mark the beginning of the end.

My concern is that this is the beginning of perhaps the end of a pack of cards falling. There is another R9 billion in loans due for repayment by the end of June, and if Standard Charted wouldn't renew theirs then probably the other lenders won't.

Guy Leitch, Editor of FlySA Magazine

This may in fact just be a consequence of South Africa's down rating by the credit ratings agencies.

Guy Leitch, Editor of FlySA Magazine

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