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Government struggling to convince banks to loan SAA billions

Government is struggling to borrow R2-billion from reticent banks, with Public Enterprises Minister Pravin Gordhan saying members of his ministry are working their “backs off” to ensure the airline survives. At the weekend, the African National Congress national executive committee agreed to keep South African Airways as the national airline “with substantial restructuring” as opposed to other options reportedly mooted by the airline’s business rescue practitioners, including allowing it to be liquidated.

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