Aviation
Commercial /
Africa
The comeback
South African Airways will return to the skies after bankruptcy
Airbus A340
South African Airways
Julian Herzog, CC BY 4.0, via Wikimedia Commons
Rafael Ramos
9/24/2021
Even before the Covid-19 pandemic, South African Airways was cutting back on the routes it offered. The company was surviving on government aid.
In June, the government decided to sell a 51 percent stake to a group of investors, the Takatso Consortium, in order to receive an investment in the order of 200 million dollars.
During the pandemic, the company could not stand it and went through a bankruptcy process.
The government then carried out a $500 million state bailout and a restructuring of the company's debt. After cutting hundreds of jobs, the company managed to get out of bankruptcy.
During a flight from Johannesburg to Cape Town, on Thursday (23), their flights were inaugurated again. South African Airways plans to resume regional routes starting next week.
However, there is still a long way to go. The airline's fleet, which was 46 planes, dropped to just six planes. South African Airways' Low Cost Subsidiary is still in bankruptcy.
Airbus A350
South African Airways
Adam Moreira (AEMoreira042281), CC BY-SA 4.0, via Wikimedia Commons
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Rafael Ramos
Aviation enthusiast from an early age, he had his first contacts with the area developing that good old habit of spending dozens of hours in front of the screens of Micrsoft Flight Simulator and other simulators. With a solid background in various technological areas, including engineering and chemistry, Rafael has rejoined aviation as editor and author of articles and materials on our portal, providing invaluable help to the dynamics and expansion of the website and the aeronautical community, bringing us the news and updates so indispensable for us to remain current in our area of operation.
   
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