South African Airways 'needs a billion dollars'

According to African news Written by Matthew Davies Editor at BBC Africa Business Report;

South African Airways (SAA) has run out of money and is effectively bankrupt, according to a cashflow statement seen by MPs.

It has raised concerns that the embattled national carrier will be unable to pay salaries in the near future.

SAA says it expects to improve its finances by October, but that depends on getting yet another bailout from the government - this time to the tune of $60m (£45m).

The airline says it has a turnaround plan, but analysts calculate that in order to avoid being grounded; the airline needs a cash injection close to a billion dollars over the next three years.