50 SKY SHADES - World aviation news

Citibank cancels South African Airways loan

Download: Printable PDF Date: 13 Jan 2016 08:09 (UTC) category:
Publisher:
Citibank cancels South African Airways loan - Finance publisher
Tatjana Obrazcova
Country: South Africa Aircraft: Airplanes Airline: South African

Citibank has cancelled a ZAR250 million (USD15 million) loan facility to South African Airways, reported The Africa Report.

"We are aware that Citi has cancelled a 250 million rand facility to SAA and are working closely with SAA on the issue to make sure there's sufficient liquidity. We are unable to comment further," treasury spokeswoman Phumza Macanda said.
 
The carrier has faced financial difficulty in the past year, leading to President Jacob Zuma firing former Finance Minister Nhlanhla Nene over plans for a sale and leaseback arrangement of an A320 through a third party.

 



Loading comments for Citibank cancels South African Airways loan...


Recommended

Emirates invites First Officers to let their careers take flight

Emirates is looking to recruit First Officers who meet the airline’s exceptional standards in safety, technical prowess and customer experience. Successful candidates can look forward to cl...

Order for the first Bombardier Challenger 3500 based in Europe for charter operations with Air Corporate

First European Bombardier Challenger 3500 business jet just ordered by Italian-based operator, Air Corporate. This will be the first company to offer the aircraft&nb...

GrandView Aviation partners with Corporate Angel Network to provide free flights to cancer patients

GrandView Aviation partnered with Corporate Angel Network (CAN) to provide free flights to cancer patients (and family members and caregivers) who need to travel to and from treatment. Every week, Gra...

BNE Careers Expo - 2,000 jobs going at Brisbane Airport precinct

Brisbane Airport Corporation is hosting the BNE Careers Expo next month to encourage up to 2,000 new employees to consider a career at the airport precinct.The airport ‘jobs...

The drones news