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South African Airways gets $346 million from government to pay laid-off workers - statement

FILE PHOTO: A South African Airways aircraft is seen at O.R. Tambo International Airport in Johannesburg

JOHANNESBURG (Reuters) - South African Airways (SAA) has received a further 5 billion rand ($346 million) from the Department of Public Enterprises to complete severance payments that form part of its rescue plan, bankruptcy administrators said on Tuesday.

SAA entered a local form of bankruptcy protection in December of 2019 after roughly a decade of financial losses, and its fortunes worsened after it grounded flights because of the COVID-19 pandemic.

($1 = 14.4432 rand)

(Reporting by Mfuneko Toyana; Editing by Promit Mukherjee)