Funding promised by the government has still not arrived. The administrators of South African Airways therefore decided on a temporary grounding.
A plan exists. South African Airways (SAA) is scheduled to take off again in early 2021 – in a much smaller size. The new national airline will only have 1,000 instead of 4,700 employees and a smaller fleet. But one thing is still missing: the ten billion rand, the equivalent of 614 million US Dollars, needed to implement the plan drawn up by the bankruptcy administrators.
The government in Pretoria has promised to provide the money. And it declared that there were more than ten investors interested in participating in the new SAA. But so far, the ten billion rand have not arrived. That is why the administrators decided on Tuesday (September 29) to suspend operations. South African Airways is still operating the return flights already planned, but will not start new ones.
Ready for a restart
The national airline of South Africa is virtually frozen by the bankruptcy proceeding. South African Airways will continue to operate with as little expenditure as possible so that the airline is able take off again soon. Meanwhile, talks with the government on financing continue.