S African Airways director resigns amid cash crunch

Bloomberg

Martin Kingston resigned as a director of South African Airways as the state-owned airline’s administrator scrambles for cash to keep it going.
“There is no need for me to be on the board given the appointment of the Business Rescue Practioners,” Kingston, the executive chairman of Rothschild & Cos South African unit, said.
The loss-making carrier has been under voluntary business rescue, a local form of bankruptcy protection, since December as the administrator tries to nurse the company back to health.