South African Airways (SAA) is on the brink of collapse. The South African government no longer wants to invest and the national airline is currently working on creating severance packages for all 4700 employees.
The state-owned airline has been in financial troubles for years
South African Airways has been struggling financially for years and was put into a form of bankruptcy protection in December. SAA has been dependent on government support for years. Due to high costs to fight the corona virus the South African government no longer want to guarantee the airline’s loans. South African Airways’ last profitable year was 2011. Bankruptcy is near as the airline is working on creating severance packages for all 4.700 employees.
Only South African airline with long-haul flights
South African Airways – member of the Star Alliance – was founded 86 years ago. The SAA fleet consists of 45 aircraft and flies to 42 destinations. It is the only airline in South Africa to offer long-haul flights. These long-haul flights mainly go to European destinations such as Frankfurt, Munich and London.
Until further notice
EUclaim is closely monitoring the situation. We will update this news item when more clarity is provided from South African Airways.