'Business rescue' was only viable option for South African Airways' survival-Ramaphosa

JOHANNESBURG (Reuters) - South African Airways (SAA) had to be placed on "business rescue" because there was no other viable and financially workable option to secure a credible future for the state-owned airline, President Cyril Ramaphosa said on Monday. SAA has been posting losses since 2011 and is deeply in debt. It has received more than 20 billion rand (1 billion pounds) in government bailouts over the past three years, which has achieved little more than keeping it barely afloat. Ramaphosa..