Planes. South African Airways suspends all operations
Funds for restructuring are still lacking
A paradoxical situation to say the least: South African Airways, flag company of African Nation, has been in economic difficulties for some time and the proposals for the rescue have not had any follow-up for the moment (read also the article published by AVIONEWS). In last few hours, as reported by the local media, it was therefore decided to suspend all operations, at least until there is a buffer solution. In fact, planes of this airline will be able to return to take off and land only when the funds are found to complete the corporate restructuring.
The only guarantees will be those of the freight transport links, to be precise those planned for some time. The "health" of South African Airways was already worrying at the beginning of 2020, then the lockdown did nothing but worsen the accounts. In July, some encouraging glimmers seemed to have opened, but then there were no positive updates, especially as regards the interest shown by Ethiopian Airlines (see AVIONEWS).
Uncertainties are increased by the attitude of the South African government that last Summer gave the green light to the restructuring: after a few weeks, the executive had changed its mind, rejecting the program and coming to hypothesize 10 billion rand for the rescue (about half a billion euros to be precise). The clouds on the horizon have never been as dark as they are right now.
AVIONEWS - World Aeronautical Press Agency