SAA to get $ 600 million bailout

JOHANNESBURG: The South African government yesterday announced that it would help national carrier South African Airways with $600 million of financing over two years, in a bid to get the troubled firm back off the ground. "Government is committed to working with SAA's management and board of directors to ensure that SAA is a viable and a financially sustainable airline," the National Treasury and Ministry of Public Enterprises said in a statement.

The airline will now have to present a strategy to turn around business and prove it remains a going concern.