The carrier has been on life support for nearly a decade, losing money each year and only sustained by funds from the South African government.
The decision came after the South African government announced a nation-wide lockdown for 21 days aimed at combatting the spread of Covid-19.
South African Airways has confirmed it will immediately suspend all international operations until May 31st, casting fresh doubt over the future of the carrier.
South African Airways will cut eight routes from its international schedule as it restructures in an attempt to fend off bankruptcy. Domestic routes operated by its low-cost subsidiary Mango will not be affected.
South African Airways has been offered US$239 million from the state-owned Development Bank of Southern Africa in order to avoid financial collapse.
South African Airways is to be placed into a “business recuse” following a sharp deterioration in its financial position. The flag-carrier has battled mounting losses for a number of years, and will now seek an equity partner as the South African government looks to limit its liability.
The news comes after labour groups staged days of strikes in response to a decision from the carrier to cut almost 1,000 jobs and rejected union demands for an eight per cent wage increase.
South African Airways will increase its frequency on non-stop flights between Washington, DC-Dulles International Airport and Accra’s Kotoka International Airport to five days weekly starting April 2nd.
South African Airways has announced plans to introduce the new A330-300 on the London route from March. The airline has also decided to adjust frequencies on the route to a single daily service.
South African Airways made history earlier when a plane going to Cape Town from Johannesburg became Africa’s first to fly on jet fuel made from tobacco plants. Boeing 737-800 flights on SAA and low-cost subsidiary Mango between Johannesburg and Cape Town were the first sustainable biofuel flights to take place on the African continent.
Etihad Airways is now able to provide enhanced access to and from South Africa following the launch of a new daily service between Johannesburg and Abu Dhabi by its codeshare partner, South African Airways. A delegation of senior SAA management, South African government officials and visiting travel trade and media representatives, was welcomed to Abu Dhabi when flight SA 278 touched down on schedule at Abu Dhabi International Airport at 20:25 last night.