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South African Airways needs state cash next week -administrators

South African Airways (SAA) needs short-term funding from the government by the end of next week for the state carrier's business rescue process to continue, its administrators said in a statement on Thursday.

The DA says that after spending mountains of money on SOCs, Transnet cannot run a railway network, Eskom cannot produce enough electricity, SAA cannot fly, Denel is insolvent and the Land Bank has defaulted.
The DA says that after spending mountains of money on SOCs, Transnet cannot run a railway network, Eskom cannot produce enough electricity, SAA cannot fly, Denel is insolvent and the Land Bank has defaulted. (SAA)

South African Airways (SAA) needs short-term funding from the government by the end of next week for the state carrier's business rescue process to continue, its administrators said in a statement on Thursday.

"It is prudent to advise affected persons of the company's dire financial position," they said.

"The existing funds which are available for operational expenditure ...are near depletion."


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