Troubled South African Airways gets government lifeline to stay solvent ...News

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Troubled South African Airways gets government lifeline to stay solvent
source : Russia Today ( News ) () 86
South Africa’s beleaguered flagship carrier, South African Airways (SAA) has received a 4 billion rand ($272 million) lifeline from the government and banks. It’s the latest in a series of government bailouts the struggling company has received in recent years. “Our desire is that the restructured airline will mark the beginning of a new era in South African aviation,” the country’s public enterprises minister, Pravin Gordhan, said on Friday while announcing the plan. “It is also important that the reliance on government finances be reduced as soon as possible to minimize disruption to SAA services, customers, staff and other stakehold

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