South Africa Scours State Coffers In Bid to Rescue SAA

South Africa is scrambling to secure extra funding to rescue South African Airways (SAA), which last month entered a form of bankruptcy protection in a last-ditch bid to save the state-owned company and around 10,000 related jobs, Reuters reported. Tito Mboweni, the country’s finance minister, told business leaders in Johannesburg ahead of the World Economic Forum annual meeting in Davos next week that the Treasury had provided “financial support to the best of our abilities”. “As of yesterday when I was speaking to the director-general of National Treasury we were still trying to find additional financing for SAA. ... Let’s keep our fingers crossed,” he said. Read more