[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.....


Recommended

by NEWSROOM AI
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
Hits from the bong (it’s legal!)… then off to work I go?

Hits from the bong (it’s legal!)… then off to work I go?

The consequences of consuming dagga at home and showing up at the office high. Bruce Whitfield interviews a labour lawyer.

Tax ombud to probe Sars – yet again - after taxpayers complain

Tax ombud to probe Sars – yet again - after taxpayers complain

The Money Show’s Bruce Whitfield interviews Adv. Eric Mkhawane, CEO at the Office of the Tax Ombud.

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

International law enforcement expert and former Drug Unit Commander Lobo das Neves says ruling opens a different can of worms.

Comair reports record earnings, 72nd profitable year in a row – a world record!

Comair reports record earnings, 72nd profitable year in a row – a world record!

Recession, soaring fuel costs and surplus capacity - yet profits keep coming! Bruce Whitfield interviews Comair CEO Erik Venter.

[WATCH] Dad stops baby from crying, Emmy acceptance speech turns into proposal

[WATCH] Dad stops baby from crying, Emmy acceptance speech turns into proposal

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.