[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

Click on the link below to listen to the full audio.....

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
SAA marred by lack of good governance says analyst

SAA marred by lack of good governance says analyst

The National Treasury announced on Saturday that it will financially bailout the ailing South African Airways.

Concerns raised over SAA's R2.3 billion bailout

Concerns raised over SAA's R2.3 billion bailout

The National Treasury announced on Saturday that it will financially bail out the ailing South African Airways (SAA), once again.

"There will probably be a new SAA board chairperson very shortly" - Yunus Carrim

"There will probably be a new SAA board chairperson very shortly" - Yunus Carrim

SA Cabin Crew Association is laying charges against SAA board and executives for mismanagement of funds.

SAA chair Dudu Myeni flies British Airways to Parly meeting

SAA chair Dudu Myeni flies British Airways to Parly meeting

Myeni allegedly argued the earlier Mango flight did not have business class.

Public clash in Parliament between two ANC MPs over SAA saga

Public clash in Parliament between two ANC MPs over SAA saga

The two MPs Peace Mabe and Yunus Carrim, who belong to the same party, exchanged unpleasant words while discussing issues at SAA.

SAA chair Myeni didn't intend on misrepresenting Airbus details, lawyers argue

SAA chair Myeni didn't intend on misrepresenting Airbus details, lawyers argue

Myeni was found to be in breach of the Companies Act after she allegedly misrepresented a board decision to lease 10 new planes.

Popular articles
Opinion:  Bishop Lekganyane is right

Opinion: Bishop Lekganyane is right

Stephen Grootes weighs in on comments made by the Zion Christian Church Bishop at the weekend.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

Getting to know MP, Dr Makhosi Khoza

Getting to know MP, Dr Makhosi Khoza

Dr Khoza is admired by South Africans for her role in the SABC inquiry as a ANC member of parliament.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

How to make your first million

How to make your first million

Warren Ingram discusses his new book in which he shares practical ways for ordinary people to achieve financial freedom.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?

Jack Mabaso resurrected on 'Generations The Legacy'

Jack Mabaso resurrected on 'Generations The Legacy'

Will Jack Mabaso's return to the realm of Generations boost ratings? Well it seems not all viewers are impressed by the come-back.