SAA recovering some of the R1 billion in funds blocked in Zimbabwe, Nigeria
South African Airways still has about US$67 million (about R1.1 billion) in blocked funds owed to it, mainly in Zimbabwe and Nigeria.
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The money still blocked in Zimbabwe is being recovered in small installments in the interim while the airline is trying to find a better solution. Gallo Images/Jacques Stander South African Airways (SAA) is in the process of trying to recover about R1.1 billion in blocked funds that it has been unable to extract from Zimbabwe and Nigeria, with the help of the International Air Transport Association (IATA).The state-owned airline's blocked funds in Zimbabwe amount to about US$60 million (about R1 billion). In Nigeria, it is owed roughly US$5 million (about R85 million).It could certainly put the blocked funds to good use. Read this for free Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. Try FREE for 14 days Next on Business Twitter users vote for Elon Musk to step down as CEO