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South African Airways’ fleet will remain on the ground with immediate effect, the administrators of the ailing South African airline have decided. SAA is currently awaiting funding for a rescue plan.
Last summer, creditors agreed to the rescue plan, with SAA making a restart in a leaner form. The South African government has to come up with more than five hundred million euros for this purpose, but talks about this are still ongoing.
Pending the outcome of the negotiations, the administrators have decided to halt flight operations and place SAA in a state of “care and maintenance”. In this way, the company can make a quick restart as soon as the financing is complete.
South African Airways, which has been losing money for years, has not operated scheduled flights since March. In recent months, the company has been active solely operating repatriation flights and cargo flights.