LISTEN: 'Number 1 wants this deal to happen'
The commission of inquiry into state capture heard on Thursday how former South African Airways CFO Wolf Meyer was instructed to meet a potential funder preferred by former president Jacob Zuma.
SAA's former head of financial risk management, Cynthia Stimpel, told the commission that she and Meyer were in charge of drafting a borrowing plan of R15 billion for the financially struggling airline.
She said the board, led by the former chairperson Dudu Myeni, withdrew the long-term loan deal to benefit a company belonging to Jayendra Naidoo.
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Stimpel told the commission's chair Raymond Zondo that by changing from a short-term to a long-term loan on the rounded up figure of R15-billion, with a fixed interest rate, SAA would save an estimated R400-million during the lifespan of the loan.