SAA has possibly defaulted on billions in loans - DA
It was reported Sunday that Standard Chartered Bank has declined to renew their loan facilities to South African Airways and that repayment of these loans has been demanded may only be the tip of the iceberg and govt might be forced to foot the bill, the Democratic Alliance said. "According to a repayment schedule, SAA has listed ZAR8.887b repayable in 2017/18, yet some of the maturity dates have in fact passed," A DA spokesperson said Sunday. "All of SAA’s loans are backed by govt guarantees that in total now amount to ZAR19.1b. If SAA has failed to repay some of these loans it could force other creditors to recall their loans, which would then necessitate the govt to step in and pay. This money would ultimately be taken from the public purse," he said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-06-19/star/saa-has-possibly-defaulted-on-billions-in-loans-da
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SAA has possibly defaulted on billions in loans - DA
It was reported Sunday that Standard Chartered Bank has declined to renew their loan facilities to South African Airways and that repayment of these loans has been demanded may only be the tip of the iceberg and govt might be forced to foot the bill, the Democratic Alliance said. "According to a repayment schedule, SAA has listed ZAR8.887b repayable in 2017/18, yet some of the maturity dates have in fact passed," A DA spokesperson said Sunday. "All of SAA’s loans are backed by govt guarantees that in total now amount to ZAR19.1b. If SAA has failed to repay some of these loans it could force other creditors to recall their loans, which would then necessitate the govt to step in and pay. This money would ultimately be taken from the public purse," he said. <br/>
