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South Africa: Govt Transfers Funds From National Revenue Fund to National Airline
Govt of SA, 1 July 2017
Government has decided to transfer funds from the National Revenue Fund to South African Airways to allow the airline to pay back its debt to Standard Chartered Bank thereby… Read more »
South African Airways Bailed Out Yet Again
The government has decided to transfer funds from the National Revenue Fund to South African Airways to allow the airline to pay back its debt to Standard Chartered Bank, thereby avoiding a default. This latest bailout totals R2.207 billion but opposition parties say it will not help the airline to rescue itself from the ongoing financial crisis.
InFocus
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President Jacob Zuma has taken charge of South African Airways, arms manufacturer Denel and electricity giant Eskom, amid demands for an explanation from official opposition party, ... Read more »
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South African Airways plagued by top management resignations and rumours of financial mismanagement, will be assessed by a task team appointed by the Public Enterprises Minister, ... Read more »
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The country's government has had to bail out the national carrier yet again to cover fuel costs and prevent its local and international flights from being grounded. Read more »
