South African Airways is on course to be saved from collapse through an emergency government loan deal.
The government said it would give the airline 2bn rand ($136m; £104m) and another 2bn rand would come from lenders.
With SAA placed “into business rescue”, the money was intended to lead a radical restructuring of the airline, Public Enterprises Minister Pravin Gordhan said.
The failing airline has not made a profit since 2011 and has lost more than $2bn over the last 13 years.
It was on the brink of collapse last month when staff went on strike over plans to cut a fifth of the workforce.
When a company is in business rescue, an outsider normally takes charge in an attempt to knock it back into shape.
more recommended stories
China defends WHO, lashes out at US move to withdraw
BEIJING — China defended the World.
4,173 deaths in Scotland now linked to Covid-19
A total of 4,173 Scots deaths.
Nigeria state doctors strike over poor coronavirus management
Doctors in Cross River state in.
Kanye West declares he’s running for president in upcoming 2020 election
WASHINGTON (Reuters) – American rapper Kanye.
Russia’s coronavirus cases near 675,000, death toll passes 10,000
MOSCOW (Reuters) – Russia on Saturday.
France rejects new probe into killing of Rwanda’s Habyarimana
A French appeals court has rejected.