The South African government has confirmed that national carrier South African Airways (SAA) will receive recapitalization totaling ZAR10 billion ($700 million) in the 2017-18 financial year. Delivering the government’s Medium Term Budget Policy Statement (MTBPS) Oct. 25, finance minister Malusi Gigaba said that ZAR5.2 billion had already been provided, with the remaining ZAR4.8 billion to be transferred by March 31, 2018. The funds will be used for working capital and to settle ...

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