According to the information received from SAA:
1. (a) The total monetary value of guarantees issued to SAA was R19.1 billion. As at 30 September 2022, R1.2 billion remain with SAA.
(b) A total of R377 million of government guarantees remain in use.
2. The guarantees were issued as follows:
Financial year |
Purpose |
R’ Billion |
2006/07 |
Support to restore going concern |
1,300 |
2009/10 |
Support to restore going concern |
1,600 |
2012/13 |
Support to restore going concern |
5,006 |
2014/15 |
Support to restore going concern |
6.488 |
2016/17 |
Support to restore going concern |
4,720 |
Total |
19 114 |
3. (a) All the guarantees have not been withdrawn from SAA as the airline is in the process of replacing the guarantees currently pledged as security for contingent liabilities with its own cash.
(b) All guarantees will be withdrawn as soon as SAA has been able to find alternatives for replacing the guarantees pledged as security
4. SAA intends to settle the outstanding guaranteed obligation by end of March 2023.
Remarks: Reply: Approved / Not Approved
Jacky Molisane PJ. Gordhan, MP
Acting Director-General Minister
Date: Date: