Insolvent South African Airways suspends operations
OPERATIONS of South African Airways (S) were immediately suspended last week by administrators in charge of the struggling airline, reports Ankara's Anadolu Agency
OPERATIONS of South African Airways (S) were immediately suspended last week by administrators in charge of the struggling airline, reports Ankara's Anadolu Agency.
Local broadcaster eNCA said administrators decided to put the national carrier under care and maintenance until funding for a restructuring plan could be found, said the report.
The airline, which flew to major destinations around the world, entered local bankruptcy protection in December last year after a decade of financial losses.
S's troubles worsened in March when the government imposed restrictions on international travel forcing it to suspend operations.
'In support of efforts by government to deal with this pandemic, and in the best interests of our crew, passengers and the public, we have decided to suspend all international flights until 31 May 2020,' S acting CEO Zuks Ramasia said at the time.
Operations have remained suspended but the country will lift a ban on international travel October 1.
According to news website EWN, the government has not yet come up with more than ZAR10 billion (US$621 million) to support a restructuring plan published by administrators in June.