South Africa's govt. bails out state airliner SAA to avoid default

By REUTERS
July 1, 2017 18:25
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Breaking news. (photo credit: JPOST STAFF)

South Africa's government on Saturday said it had transferred an undisclosed amount to South African Airways for the state carrier to pay back loans of about 2.3 billion rand ($176 million) to lender Standard Chartered.

This week the Treasury said that around 9 billion rand of debt was maturing at month-end, with around 6 or 7 lenders involved.


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