Fears South Africa Airways ‘nearing collapse’

Breaking News Business Fashion & Travel Features Finance FOREIGN NEWS Lifestyle Music Press Release Technology Technology WORLD NEWS
Share

South Africa’s cash-strapped national carrier is reportedly at risk of collapse.

The government is working on “immediate actions” to keep South Africa Airways in the skies, according to Reuters.

The airline hasn’t turned a profit since 2011 and has relied heavily on government bailouts to stay afloat.

Now, the firm needs to find more than 2bn rand ($136m; £105m) to continue operations but banks are reluctant to lend without state backing.

Source BBC News

Leave a Reply

Your email address will not be published. Required fields are marked *