South African Airways to be replaced.
Reports by Aerotime
Over $1.1 billion been injected into the company in past 3 years.
The airline managed to secure a 3.5 billion rands ($240 million) funding from investors,
And Development Bank of Southern Africa.
But has refused to pay another 10 billion rands ($532 million) of emergency aid,
The Ministry of Public Enterprises announced on May 1, 2020, that the national carrier,
created in 1934, would disappear to give way to a new airline.
“Stakeholders have agreed on a long-term vision and strategy”
with a view to “the creation of a new dynamic airline,”
Enterprises minister Pravin Gordhan said.
South African Airways is on the brink, after the state denies support.
