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, Trend reports with reference to Reuters.
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.