South African Airways faces long haul after funding lifeline
South African Airways finally secured the funding it needs to keep flying for the time being, yet there’s still a long way to go before the carrier can claim to be stable. SAA probably has enough cash to keep operating for as long as 8 months after the Development Bank of Southern Africa stepped in with a ZAR.5b (US$240m) injection, according to Joachim Vermooten, an independent aviation consultant. The carrier is running at a loss of about ZAR500m a month and the situation may deteriorate as it scraps flights and reduces ticket prices to attract wary customers, he said. The loss-making airline was put into a local form of bankruptcy protection late last year and administrators at Matuson & Associates have little more than a month left to come up with a workable plan to turn it around. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-01-31/star/south-african-airways-faces-long-haul-after-funding-lifeline
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South African Airways faces long haul after funding lifeline
South African Airways finally secured the funding it needs to keep flying for the time being, yet there’s still a long way to go before the carrier can claim to be stable. SAA probably has enough cash to keep operating for as long as 8 months after the Development Bank of Southern Africa stepped in with a ZAR.5b (US$240m) injection, according to Joachim Vermooten, an independent aviation consultant. The carrier is running at a loss of about ZAR500m a month and the situation may deteriorate as it scraps flights and reduces ticket prices to attract wary customers, he said. The loss-making airline was put into a local form of bankruptcy protection late last year and administrators at Matuson & Associates have little more than a month left to come up with a workable plan to turn it around. <br/>
