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South African Airways close to bankruptcy

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National carrier may soon be unable to pay salaries
South African Airways is in a dire financial situation, according to information given to the country’s parliament and seen by the BBC. On the edge of bankruptcy, it may soon be unable to pay salaries.
The national carrier is haemorrhaging cash and needs a 792 million rand (€50 million) bailout from the government if it is to survive beyond October.
But even then, the airline is expected to lose a further €42 million during the month of December.
South African Airways has lost money every year for the last seven years. Meanwhile, unions are threatening strike action over pay. Acting CEO Musa Zwane has been trying to hammer out a recovery plan since January.
BBC

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