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Knocking the Wind Out of SAA

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South African Airways (SAA) has cancelled some domestic flights between its Johannesburg hub and Cape Town and Durban, and some international flights to Munich, the state airline said, as it fights for its survival. SAA is running short of cash after the government failed to provide $137 million of emergency funding it promised when the airline entered a form of bankruptcy protection last month. The airline is one of several South African state entities, including power company Eskom, mired in financial crisis after nearly a decade of mismanagement.

SOURCE: REUTERS AFRICA

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