Economics

South African Airways to Get $239 Million From State Bank

DBSA to provide cash after government missed deadline
State-owned SAA canceled some flights this month to save cash

An Airbus A320-200 passenger jet, operated by South African Airlines, flies above a construction site in Johannesburg. — An Airbus A320-200 passenger jet, operated by South African Airlines, flies above a construction site in Johannesburg.
Photographer: Waldo Swiegers/Bloomberg

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By Antony Sguazzin and Loni Prinsloo

January 28, 2020 at 12:06 PM UTC

Updated on

January 28, 2020 at 3:09 PM UTC

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South African Airways’s business-rescue team said it’s been given access to 3.5 billion rand ($239 million) from the state-owned Development Bank of Southern Africa to avert the airline’s collapse.