South African Airways needs state cash next week -administrators
By Reuters - 10 September 2020 - 13:10
SAA needs short-term funding from government as its funds are near depletion, administrators say.
Image: SAA
Image: SAA
South African Airways (SAA) needs short-term funding from the government by the end of next week for the state carrier's business rescue process to continue, its administrators said in a statement on Thursday.
"It is prudent to advise affected persons of the company's dire financial position," they said.
"The existing funds which are available for operational expenditure ...are near depletion."
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