The airline has received bailouts of almost £1.1 billion in the past three years AlamySouth Africa’s national airline has cancelled flights in a desperate measure to head off collapse amid rows over a further government bailout. South African Airways (SAA), which has been run into the ground by years of corrupt management, was promised £100 million from the treasury to fund a business rescue announced last month. However, after a delay in the payout yesterday it cancelled 19 flights “to conserve cash”. The funds have been held back because of legal concerns over the national budget, according to local reports. He fears that South Africa will lose its remaining investment-grade credit…

Source: The Times January 22, 2020 00:00 UTC