markis10
Veteran Member
- Joined
- Nov 25, 2004
- Posts
- 31,270
- Qantas
- LT Gold
- Virgin
- Red
- Oneworld
- Sapphire
THE South African government has announced that it will help national carrier South African Airways (SAA) with $US600 million ($A582.10 million) of financing over two years, in a bid to get the troubled firm back off the ground.
"Government is committed to working with SAA's management and board of directors to ensure that SAA is a viable and a financially sustainable airline," the National Treasury and Ministry of Public Enterprises said in a statement.
The airline will now have to present a strategy to turn around business and prove it remains a going concern.
Read more: $600m bailout for South African Airways | News.com.au
"Government is committed to working with SAA's management and board of directors to ensure that SAA is a viable and a financially sustainable airline," the National Treasury and Ministry of Public Enterprises said in a statement.
The airline will now have to present a strategy to turn around business and prove it remains a going concern.
Read more: $600m bailout for South African Airways | News.com.au
