ANNOUNCED AS TEMPORARYNo
The guarantee approved by the Ministry of Finance of the Republic of South Africa has a total value of Rand 6.488 billion (USD 559.82 million). In a separate press release, the government approved the guarantee in December 2014. The guarantee is not a transfer of funds but allows the airline to borrow against it. In the event of default, the government of South Africa will undertake the company's debt obligations. The government has previously approved guarantees for South African Airlines at a total value of approximately Rand 7.9 billion (USD 949.92 million), see related measure. The total value of guarantees to the airline is approximately Rand 14.4 billion (USD 1.24 billion).
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