SAA may receive emergency funding from state bank
South African Airways (SAA) could receive some of the funding needed to avert its collapse from the Development Bank of Southern Africa, a state-owned financier, two people familiar with the situation said.
While the amount is yet to be decided upon, the national carrier, which is in a local form of bankruptcy protection, needs the money to continue operating. It has already canceled some flights this month after the government missed a deadline to provide R2 billion.
Spokespeople for South African Airways and DBSA couldn’t immediately comment. They said they may respond later.
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Source: moneyweb.co.za
