JOHANNESBURG – South African Airways (SAA) has to defend a fundraising.
The R3.5 billion loan will fund its operating capital requirements to the end of the current financial year.
Arrangements are ongoing to extend the repayment terms of extended loans.
NEW INFORMATION: SAA clarifies a stated divide
"We appreciate the lenders to make a warning, but they are satisfied with the progress … We will continue to continue to the end of the financial year, "said the SAA spokesman, Tlali Tlali.
At the same time, SAA will be one group but will be broken into three separate business units as part of a rehabilitation plan.
"SAA remains one entity with three business units built on the current route network. International, regional and domestic markets in South Africa," said Tlali Tlali.