South African Airways faces liquidation as govt denies emergency funding request

South Africa's national carrier, South African Airways, is at risk of liquidation after the Cyril Ramaphosa led government denied its request of an emergency funding.

With the country on battling the spread of COVID-19 pandemic, about 5,000 jobs could be lost to the liquidation.

According to the BBC, the national carrier requested for the sum of $500m (£400m) worth of emergency funding which the government rejected.

Despite receiving more than $1bn worth of bailouts over the past three years, the airline has not turned a profit since 2011.

It has suspended most domestic and international flights because of the coronavirus pandemic.

BBC