Tuesday, October 2, 2012

South African Airways to get gov't bail-out, amid calls for privatization

The South Africa government on Tuesday announced that it would help national carrier South African Airways with US$600 million of financing over two years, in a bid to get the troubled firm back off the ground.

"Government is committed to working with South African Airways's management and board of directors to ensure that South African Airways is a viable and a financially sustainable airline," the National Treasury and Ministry of Public Enterprises said in a statement.

The airline

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