South Africa's govt. bails out state airliner SAA to avoid default

JOHANNESBURG, July 1 (Reuters) - South Africa's government on Saturday said it had transferred an undisclosed amount to South African Airways for the state carrier to pay back loans of about 2.3 billion rand ($176 million) to lender Standard Chartered.

This week the Treasury said that around 9 billion rand of debt was maturing at month-end, with around 6 or 7 lenders involved. ($1 = 13.0476 rand) (Reporting by Mfuneko Toyana Editing by Jeremy Gaunt.)