S. African Airways Rescue Stalls as Banks Hang Back on Funds
- Lenders fail to respond to request for 5.3 billion rand
- Airline hasn’t made a profit since 2011, surviving on bailouts
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The planned business rescue of South African Airways is in limbo because government attempts to raise 5.3 billion rand ($307 million) of immediate funding from commercial banks failed to elicit a response, a person familiar with the situation said.