Bloomberg reports the airline’s administrators now believe that the prospect of a successful turnaround is unlikely, and adds the carrier is now looking at mass lay-offs.
SAA suspended all international operations last month until the end of May in response to the coronavirus crisis, which has further exacerbated the carrier’s already uncertain position.
The 86-year-old airline was placed in bankruptcy protection in December before entering into business rescue arrangements in late-January, which included a preliminary funding agreement with the South African government and the country’s banking sector.
