SAA may receive emergency funding from state bank

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South African Airways (SAA) could receive some of the funding needed to avert its collapse from the Development Bank of Southern Africa, a state-owned financier, two people familiar with the situation said.

While the amount is yet to be decided upon, the national carrier, which is in a local form of bankruptcy protection, needs the money to continue operating. It has already cancelled some flights this month after the government missed a deadline to provide R2 billion.

Spokespeople for SAA and DBSA couldn’t immediately comment. They said they may respond later.

© 2020 Bloomberg L.P.
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Anyone who thinks this is a loan is smoking their socks

Still our money.

Yes, just another way raid the cookie jar and take money from state coffers.

They are still pouring the money into the gravy train and feeding troughs.

But seriously – who will be bailing out the DBSA?

The ANC really insults intelligence but then ???

End of comments.

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