Lifeline for SAA

South African Airways (SAA) has been given a further government guarantee of ZAR6.5 billion (US$564.6 million) to allow it to continue operations. SAA will be able to borrow against the funds, with the government standing as a guarantor in the event of a default. “The additional guarantee will enable SAA to finalize its annual financial statements for 2013/14, making it possible for the airline to hold its annual general meeting on Friday next week, Jan. 30, 2015,” the Ministry of Finance said in a statement. Under the terms of the agreement, SAA must submit an implementation strategy for the 90-day