South African airline SAA requires $400mn bailout to stay afloat - treasury official

CAPE TOWN: South Africa's state carrier SAA requires a 5 billion rand ($399 million) cash injection in the current financial year to help it meet its financial obligations, a senior treasury official said on Tuesday.

National Treasury director-general Dondo Mogajane told parliament the cash injection could however not come from government, which has so far pumped 20 billion rand into the firm.

Mogajane said treasury was willing to consider selling a stake in the airliner to a private equity partner.