Bankruptcy looms over South African Airways as revenue streams dry up
Documents have been given to the South African Parliament showing that the country’s Airline is moving towards bankruptcy.
The financial records of the company shown to Parliamentarians pictured a company that is struggling to survive and is in dire need of bail outs from the government.
Report says the Airline may not be able to pay salaries in the coming months.
The documents confirmed that South African Airways had been losing money in the last seven years.
Acting CEO of the company, Musa Zwane, is believed to have resigned his appointment as efforts to revamp revenue streams of the company failed.