South African Airways, an airline threatened with bankruptcy, is leaving its aircraft on the ground for the time being. The reason for this are ongoing talks about the rescue of the ailing carrier.
9 years. The South African airline has not been able to show a profit for so long. Accordingly, it could only be kept afloat with government aid and guarantees. Now, in the course of the coronavirus crisis, a rescue procedure has been initiated again, which should lay the foundation for a new beginning - in a slimmed-down form. In order to be able to finally finalize this process, the airline will cease operations.
And will only start again when the new rescue plan is on a safe footing, like the news magazine Aero reported. As a result, it needs the equivalent of 533 million euros. The creditors have already given their approval - and made a commitment from the government a condition. A decision should be made in the coming week.