Government News
SA Government Could Bail Out National Airline to the Tune of $1.2-Billion
Sourced from Shutterstock. The administrator’s running South Africa’s embattled national airlines SAA propositioned the government to provide a R21-billion ($1.2-billion) bailout to help repay debt and resume operations after COVID-19 travel bans are lifted. This new plan includes about R17-billion that will go into repaying South African Airways creditors, according to Bloomberg. Afterwards, as much as R2-billion will be provided for working capital to get operations back and running. The draft plan “is for discussion purposes only and we await comment from the affected persons,” a spokeswoman for the administrators says, adding that the team has until 8 June to finalize a rescue proposal. /* custom css */ .tdi_3_91e.td-a-rec-img{ text-align: left; }.tdi_3_91e.td-a-rec-img img{ margin: 0 ...
