Tuesday, February 26, 2013
600m bailout for South African breathing passages
600m bailout for South African air route
"Government is committed to working with SAA's management and board of directors making sure that SAA is a viable and a financially sustainable airline, The nation's Treasury and Ministry of Public Enterprises said in a statement.
The airline will now have to present a strategy to convert business and prove it remains a going concern.
In 2011 the carrier reported a rise in profit from 442 million rand ($A51.42 million) In 2010 when you need that 782 million rand, Enhanced by the 2010 FIFA World Cup, But the most the airline has struggled to make a profit.
The statement comes just days after the embattled state-Backed carrier was plunged into crisis when its chairwoman and seven board members reconciled in protest.
Cheryl Carolus claimed her resignation through local media, Saying that relations with the types of art costa rica government - the airline's