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Business News of Monday, 3 February 2020

Source: www.mynigeria.com

South Africa Airways cancels flight over financial crisis

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South Africa Airways have canceled flights to certain local and International destinations due to its deepening financial crisis.

Twenty flights between Johannesburg and Durban will be cut this week while eight between Johannesburg and Cape Town will be cut as well.

Ten flights were cancelled between Johannesburg and Munich.

A statement issued by the airline noted that ‘‘SAA will be reviewing further possible flight-schedule amendments over the coming days.’‘

SAA which was placed into bankruptcy protection last month is expecting a pledge of 2 billion rand or $138 million life line from the government to enable it remain on operation.

According to the Ministry of Public Enterprises, efforts are in place towards raising the money.