South African Airways Faces Long Haul After Funding Lifeline
South African Airways finally secured the funding it needs to keep flying for the time being, yet there’s still a long way to go before the state-owned carrier can claim to be stable.
SAA probably has enough cash to keep operating for as long as eight months after the Development Bank of Southern Africa stepped in with a 3.5 billion rand ($240 million) injection, according to Joachim Vermooten, an independent aviation consultant. The carrier is running at a loss of about 500 million rand a month and the situation may deteriorate as it scraps flights and reduces ticket prices to attract wary customers, he said.
Read more from source article: https://www.bloomberg.com/news/articles/2020-01-30/long-haul-ahead-for-south-african-airways-after-funding-lifeline
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