South African Airways remain under-capitalised


South African Airways (SAA)

South African Airways (SAA)

South African Airways on Tuesday said even with a recent government injection of 10 billion rand (709 million dollars), the struggling airline remained under-capitalised .

This was due to a negative equity position of more than nine billion rand, a presentation to parliament indicated.

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The national airline has been relying on government guarantees to keep it solvent and has been cited by major rating agencies as a threat to South Africa’s economy.