Only option was to put South African Airways on rescue, Ramaphosa says
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JOHANNESBURG (Reuters) - South African Airways had to be placed on "business rescue" because there was no other viable and financially workable option for a credible future for the state-owned airline, President Cyril Ramaphosa said on Monday. The airline was placed on business rescue by the government, a form of bankruptcy protection, on Thursday in hopes to save the cash-strapped state carrier from collapse. "The financial crisis had become so grave that the only way to secure its survival was..