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Public investors' funds rescued insolvent airline "in crisis"

By Matai'a Lanuola Tusani T - Ah Tong 09 December 2021, 5:46PM

The Government’s vehicle for small investors loaned Samoa Airways tens of millions of tala despite knowing the airline was functionally bankrupt and in financial crisis, the Samoa Observer can reveal. 

The Unit Trust of Samoa (U.T.O.S.) Loan Assessment report concerning loans of up to $45 million to be disbursed to the national carrier over two years, for which the Government is the sole guarantor. 

By Matai'a Lanuola Tusani T - Ah Tong 09 December 2021, 5:46PM
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