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New State Help for South African Airways

MIAMI – The South African government steps in once more to help South African Airways (SA) to get out of financial quicksands.

The new loan of 5 billion ZAR (US$346m) will allow the ailing carrier to pay severance packages to its employees that opted for this proposed solution. The payment was expected to take place and the end of January.

South African Airways is in deep trouble since the break out of the COVID-19 pandemic, which brought a final blow to the carrier’s financial situation, already critical even before the ongoing worldwide airline crisis. SA had sought bankruptcy protection, a local read more ⇒

Source:: “Airways Magazine”

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