South African Airways is 'effectively bankrupt'

Reports indicate that the South African Airways, SAA has run out of money and is effectively bankrupt.
 
There are concerns that the embattled national carrier will be unable to pay salaries in the near future.

In July, SAA spent 42 million dollars more than its income, on an operational level and it is predicted to worsen in the coming months. 

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.

SOURCE: BBC NEWS