Johannesburg – Administrators at state-owned South African Airways (SAA) said on Tuesday the government needed to find more than R10 billion of new money for a long-delayed plan to rescue the cash-strapped airline.
Their rescue plan has been repeatedly delayed amid fierce wrangling over SAA’s future, with senior officials and trade unions applying pressure for the airline to be saved despite the Covid-19 pandemic exacerbating its longstanding frailties.
SAA has not made a profit since 2011 and has burned through more than R20 billion of bailouts in the past three years.
It suspended commercial passenger flights in late March, when the government imposed one of Africa’s strictest coronavirus lockdowns.
Source:
iol.co.za
