South African Airways gets $346 mln from govt to pay laid-off workers - statement

South African Airways (SAA) has received a further 5 billion rand ($346 million) from the Department of Public Enterprises to complete severance payments that form part of its rescue plan, bankruptcy administrators said on Tuesday.

SAA entered a local form of bankruptcy protection in December of 2019 after roughly a decade of financial losses, and its fortunes worsened after it grounded flights because of the COVID-19 pandemic.