JOHANNESBURG — Two big travel insurance companies in South Africa have stopped covering tickets issued by South African Airways (SAA) against insolvency as doubts grow about whether the struggling state-owned airline can survive. Public Enterprises Minister Pravin Gordhan still wants to save SAA, which says it needs to more than 2 billion rand ($136 million) quickly to stay afloat. The company that administers Hollard Travel Insurance told Reuters on Friday it had also excluded SAA from its travel supplier insolvency coverage, citing the airline’s finances. “No one managing SAA, from Minister Gordhan downwards, anticipated the flight of confidence that the strike would have,” Leitch said. In a letter to clients dated Nov. 28, Flight Centre said its preferred travel insurance provider was no longer willing to cover SAA due to doubts about its long-term viability.

Source: National Post November 29, 2019 13:04 UTC