South African Airways looks to state for survival
[JOHANNESBURG] Hapless and helpless, South Africa's struggling national carrier awaits news on a state cash injection which is vital to stay in the skies, but which also shows up its inability to make money.
Eighty years after its creation, loss-making South African Airways (SAA) battles with an ageing fleet and a weak national currency.
"It's not a secret that our balance sheet is very weak," chief financial officer Wolf Meyer admitted.
"There are currently discussions with the national treasury, we hop…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
‘Heavy congestion’ in South-east Asia transhipment ports prompts feeder operators to levy surcharge
Renault Q1 sales rise 1.8%, helped by financing business
Honda to build major EV plant in Canada
Elon Musk’s robotaxi dreams plunge Tesla into chaos
Boeing expects slower increase in 787 production rate and deliveries: memo
Tesla cuts marketing team in reversal of Musk’s ad strategy