Creditors of struggling state-owned carrier South African Airways approved a rescue plan on Tuesday (July 14) which would require the government to find at least 10 billion rand, or $596 million, of new funds.

That's put the ball firmly back in the government's court and it's not yet clear where the money will come from.

The loss-making airline has already taken more than 20 billion rand in bailouts over the past three years.

Aviation analyst Guy Leitch:

"The creditors are accepting the business rescue plan, it's very good for SAA because it has been absolutely in suspended animation for the past nine months. And particularly obviously since the beginning of December when the business rescue plan was first started. But it needs to be recognized that the business rescue plan was written primarily for the creditors."

Administrator Siviwe Dongwana told a creditor meeting that the Department of Public Enterprises had said the government would deliver a funding commitment to them on Wednesday (July 15).

Dongwana said the plan, which envisages scaling down SAA's fleet and shedding jobs, was approved by 86% of voting interests.