South African Airways Receives $3.8 Billion Bailout


The struggling South African Airways has once again received another bailout.

This time, the airline will receive $3.8 billion South African Rand (approximately $211.3 million USD) from the government.

Weeks ago, the airline announced it would lay off all staff and soon liquidate. Then, the government revealed plans to form a new national airline, one that could be sustainable and competitive.

Sources/Image

Image: https://www.planespotters.net/photo/1010994/b-304z-south-african-airways-airbus-a350-941
Sources:
https://www.timeslive.co.za/politics/2020-05-20-saa-gets-r38bn-eskom-r33bn-as-covid-19-ups-soes-financial-woes/
https://onemileatatime.com/south-african-airways-gets-another-bailout/

So, it looks like the airline will live for some time. However, South African Airways still has a debt of around $10 billion South African Rand, making its future still uncertain.

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Wow @TY_PLAY your VA is saved irl

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Someone has arose from the dead. This is great news! Hopefully they can get back on their feet after some time.

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COVID-19: Does COVID things
South African Airways: about to die
South African Government with 3.8 Billion:
image

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This is fantastic news! I hope they fully come back when this is all over!

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Oh well, at least there’s good news

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I think it was obvious this would happen, same situation with Alitalia.

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Essentialy they pulled off an Alitalia; recieve more capital, despite the fact that they are banckrupt. (Only difference is that Alitalia was re-nationalised after a failed joint venture with etihad, whist SAA was always a nationalised airline)

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And we will see how much staff cuts will still be made even with this bailout…

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I asked for some good aviation news and was not disappointed.

Also the title is somewhat misleading

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@Springbok777 now owns SAVA 😂, @TY_PLAY is the COO. Anyways, this is great news!

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he Knows that, LOL

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I’m just happy that African skies will still have competition. There’s nothing as bad as having an entire region being left to 2 carriers, in this case Ethiopian and Kenya.

I just know Ty is a staff member lol

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Jaspers!!!

I honestly thought SAA was a goner!!! Hopefully, we can get the A350 livery!!

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