South African Airways Seeks Urgent Funding After Latest Loss


South African Airways said executives will meet National Treasury officials every two weeks to address urgent funding needs after the embattled national airline reported a seventh consecutive year of losses — and the worst since 2015.

The carrier’s precarious balance sheet is among the most urgent tasks on the to-do list of Finance Minister Nhlanhla Nene, who is already under pressure to revive the country’s own stretched finances. SAA Chief Executive Officer Vuyani Jarana said last month the airline needs 5 billion rand ($401 million) immediately, while looming debt payments next year may necessitate further government assistance.

A so-called oversight forum has been set up between SAA and the Treasury that will also address the airline’s ownership structure, the carrier…

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