JOHANNESBURG, Oct 15 — A rescue plan for South Africa’s flag carrier has yet to get off the ground since the government has not provided promised funding, with the upcoming budget looming as a crucial test for its future. State-owned South African Airways (SAA) had limped along for a decade...
The logo of South African Airways is seen on an aircraft at O.R. Tambo International Airport in Johannesburg February 14, 2019. — Reuters pic
Administrators axed most domestic and some international routes in February to save cash — even before coronavirus grounded airlines globally — as they drafted a massive restructuring plan to create a leaner, competitive airline. Administrators have suggested winding down the airline as an alternative — stripping the company to the bare bones but keeping its licenses, allowing the airline to fly again if the opportunity arises. The government has resisted this option as well as the airline’s complete liquidation.
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