According to reports, the airline hasn't made a profit since 2011.
A delegation from Treasury and Public Enterprises met with banks to ask for their help in fixing embattled SOEs.
SAA needs R21.7-billion over three years to service its debt alone.
Vuyani Jarana has taken up a bet by Free Market Foundation Leon Louw, that he will give R100,000 to charity if his turnaround strategy fails.
SA Express is the latest para-statal to need a government bailout.
The cash crisis at SAA is so severe that it will need R21.7-billion over three years if it is to become profitable again.
Dianne Kohler-Barnard says three sources told her that senior politicians want the former policeman killed.
Seven senior SAA staff have reportedly been served with notices of suspension.
The trade union says there is little prospect of profits being made at the airline any time in the future.