South Africa Puts Aside More Money For Struggling SAA

The South African Government has thrown cash-strapped South African Airways another lifeline. $212 million has been “provisionally” set aside by the government for the airline this current financial year. This comes despite earlier assurances from the government that there would be no more money for the state-owned carrier.

South African Airways has been in the local equivalent of Chapter 11 since late 2019 with the aim of restructuring the airline into a more sustainable ongoing concern. South African Airways has been mired in financial, management, and government interference problems for years. In April this year, the South African Government declined to provide any more funding or financial guarantees for the airline.

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Source: simpleflying.com