Johannesburg - South African Airways, the struggling airline that has recieved another government bailout, says its loss will now come in at R5.6 billion.
This is according to Reuters, which quotes papers from Parliament. SAA, which is technically insolvent, earlier this month, said its loss would be R4.7 billion.
SAA has already received state guarantees of almost R20 billion and has been singled out by rating agencies as one of the threats to SA’s investment grade rating. Ratings agencies will review SA’s status in December amid fears the country may be downgraded to junk.
The results were originally due in September last year.
Read also: Bailout allows SAA to escape ratings review
The national carrier has been requesting a R5 billion loan guarantee from National Treasury.
This month, Cabinet controversially approved the appointment of the new board to be headed by controversial chairwoman Dudu Myeni.
Opposition parties have launched a scathing attack on SAA , with the EFF, DA and other opposition parties accusing the president and the ANC of running the airline into the ground.
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