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A South African Airways A340-600 on approach to Frankfurt. (Photo: AirlineGeeks | Fabian Behr)

South African Airways to Receive $1.2 Billion Government Bailout

The South African government has agreed to finance the restructuring of South African Airways (SAA) as indicated in a copy of a draft plan shown on Monday. The draft plan involves a government agreement to spend R21 billion ($1.2 billion) to restructure SAA. According to the draft plan, a working capital injection is estimated at not less than R2 billion to restart operations once there are relaxed travel restrictions brought up by the coronavirus pandemic. In addition, another R2 billion…

South African Airways Liquidation Unlikely for Now

The immediate liquidation threat of South African Airways (SAA) may be averted for now as announced by the Department of Public Enterprises (DPE) on Saturday. The new deadline for the proposed employment agreement has also been extended to May 1, 2020. DPE also acknowledged an agreement was reached in a…

South African Airways Axes Routes to Regain Profitability

As part of the bankruptcy protection process initiated at the end of 2019, South African Airways last week announced a series of measures that seek to return profitability to its operations. The process is in the hands of two consultants specialized in these practices, led by Siviwe Dongwana and Les…

South African Airways Announces Employee Cuts in Restructuring Effort

Financially riddled South African Airways has announced a restructuring plan that would cut one-fifth of its workforce. Over the past few years, the airline has been reliant on government financial support to continue its operations but has now started working with its labor unions to develop a restructuring plan that…