The insolvent South African Airways (SAA) needs a R2 billion capital injection to pay salaries and some of its operational expenses.
Meanwhile, an insurance expert at Old Mutual, Christelle Colemen, has warned consumers who knowingly take up insurance to fly with airlines that are facing insolvency that they will not enjoy cover.
“If you buy the ticket and you just hope that your insurance policy will payout and the airline does go insolvent or the flights are cancelled and you can’t recover the money from the insurance and the actual airline. So it’s a very important consideration and you’re opening yourself up to quite a significant risk if you knowingly buy airline tickets or accommodation from potentially insolvent organisations.”
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