Thursday, 29 Oct 2020 08:02 AM MYT
The cash-strapped flag carrier was placed under a state-approved administration in December following years of mismanagement and rising debt. The latest allocation expected to save the limping airline, is in addition to 16.4 billion rand doled out in February this year to settle guaranteed debt and interest.
The finance minister bemoaned the country's looming debt crisis saying that South Africa could not sustain the current levels of debt, particularly as increasing borrowing costs were diverting resources that should be going to economic and social development.
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