
Just to put things into perspective- SAA had received more than R30bn (approximately, US$3 billion) in government guarantees and loans from the Government of South Africa since 1999. Recent financial reports indicate that the SAA had no equity and was surviving on R14.5bn (approximately, US$1.5 billion) of government guarantees given to it since 2007.
Continue reading Things fall apart at South African Airways- A retrospective look.