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Finance Minister Nhlanhla Nene has approved an additional R6.488 billion guarantee for the country's cash-strapped national airline SA Airways.
The finance ministry announced on Thursday that the additional guarantee will enable SAA to finalise its annual financial statements for 2013/14 and make it possible for the
airline to hold its annual general meeting next Friday.
This latest bailout takes the total guarantees granted to the airline to R14.4bn.
A guarantee is not a transfer of money but allows an entity to borrow against it.
The ministry said it was an undertaking for government to take on the liability of the entity's debt obligation in the event of a default.
SAA was one of three state owned companies transferred to Treasury from the department of public enterprises in mid-December after Minister in the Presidency Jeff Radebe said Cabinet was concerned about their performance.
