South African Airways requires $400m bailout- Official

 

South African Airways

South African Airways (SAA) requires R5 billion ($399 million) cash injection in the current financial year to help it meet its financial obligations, a senior treasury official said on Tuesday.

National Treasury Director-General, Dondo Mogajane, told parliament the cash injection could however not come from government, which has so far pumped R20 billion into the state carrier.

Mogajane said treasury was willing to consider selling a stake in the airliner to a private equity partner.

Agency Report

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