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South African Airline runs out of cash, pleads for bailout

The South African Airline is on the verge of bankruptcy according to a report read in the country’s parliament. The report indicates that the airline might soon not be able to pay salaries to its workers.

The company has been running at a loss for the past seven years according to the acting chief executive Musa Zwane.

Last month, the treasury paid a loan from the Standard Chattered bank amounting to £125m after the bank had refused to extend.

The airline is now asking for £560m to recapitali…
READ MORE : http://www.africanews.com/2017/08/03/south-african-airline-runs-out-of-cash-pleads-for-bailout

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