CAPE TOWN, Dec 5 (Reuters) – South Africa’s failing national airline SAA is expected to get an extra 2 billion rand ($136 million) boost from government and another 2 billion from existing lenders as it enters business rescue proceedings from Dec. 5 in a bid to prevent a collapse, a minister said on Thursday.
SAA, which has not made a profit since 2011 and is dependent on government bailouts to remain solvent, suffered a crippling strike last month that forced it to cancel hundreds of flights and pushed it to the brink of collapse. ($1 = 14.7075 rand) (Reporting by Wendell Roelf; Editing by Kim Coghill)
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