SOUTH AFRICAN AIRWAYS GETS ANOTHER GOVERNMENT BAILOUT

South African Airways (SAA) has received a government bailout of US$ 640 million dollars. SAA has been under business rescue since December 2019. The R10,5 availed to rescue the redundant carrier was generated from cutting budgets from other departments, public entities and conditional grants. Presenting the mid-term budget, South Africa’s minister of Finance Tito Mboweni said “R10.5 billion is allocated to SAA to implement its business rescue plan. This allocation is funded through reductions to

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