• Restoring sanity to SA

    We should be driven by the thought that SA belongs to all who live in it, says Solly Moeng.

  • Clamouring for action

    2017 will see battles between politicians as well as those tired of politicking, says Daniel Silke.

  • Realistic dreaming

    Preparation and sound advice will turn entrepreneurial dreams into reality, says Ian Mann.

All data is delayed
Loading...
See More

SAA asks govt for R6bn - report

Feb 15 2012 08:36
Sapa

Johannesburg - South African Airways (SAA) has asked the government for a recapitalisation of about R6bn to fund operational costs, growth strategy and fleet renewal, according to a report on Wednesday.

The requested funds would be in addition to the R1.3bn subordinated loan SAA already had from the government, Business Day reported.

It also included the company's R1.6bn "going concern" guarantee it obtained to underpin its money requirements after the auditor general raised concern last year about its ability to generate cash to fund operations.

"This year we will have to go through the same process and the guarantee required will probably be higher," SAA chief financial officer Wolf Meyer was quoted as saying. He was addressing parliament's public enterprises committee on Tuesday.

Meyer said SAA's weak balance sheet would also have to be fixed if it was going to finance growth and fleet renewal, the newspaper reported.

 
saa

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
32 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about: SMALL BUSINESS

From fossils to finance – that’s been the career trajectory of Dr Merrill van der Walt, a palaeontologist until recently. She is now a statistician with a difference.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

SA's avoidance of junk status by rating agencies: Moody's and Fitch

Previous results · Suggest a vote

Loading...