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Broke airline cant pay salaries

According to a cash-flow analysis provided by the airline to MPs on Wednesday, the state-owned airline went into a negative cash position in July when it had a net cash outflow of R568m. It projects a further deterioration in the months ahead with net cash outflows of R936m forecast for August and R918m in September.

A relative improvement to a negative cash flow of R134m is projected for October on the assumption that the airline gets financing and government support of R792m.

Source: SA Labour News



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