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South African Airways suspends operations over funding

South African Airways suspends operations over funding
National carrier has struggled financially for years

By Hassan Isilow

JOHANNESBURG (AA) - Operations of South African Airways (SAA) were immediately suspended by administrators in charge of the struggling airline, local media reported Tuesday.

Local broadcaster eNCA said administrators decided to put the national carrier under care and maintenance until funding for a restructuring plan could be found.

The airline, which flies to major destinations across the world, entered local bankruptcy protection in December last year after a decade of financial losses.

SAA’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," SAA Acting CEO Zuks Ramasia said at the time.

Operations have remained suspended but the country will lift a ban on international travel Oct. 1.

According to news website EWN, the government has not yet come up with more than 10 billion Rand ($621 million) to support a restructuring plan published by administrators in June.

source: News Feed
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