
Saturday May 01, 2021
South African Airways "exits" bankruptcy after 17 months of insolvency
South African Airways "exits" bankruptcy after 17 months of insolvency and billions of Rand bailouts, claiming to once again be a going concern even though they have let go 80 percent of their employees, pilots have not flown in ages, they can't make payments for airport fees and only have a handful of inefficient , aging aircraft left on hand.
This state owned patronage machine is still led by a board and leadership that flew the company into the ground in the first place.
PROGNOSIS: Extremely poor
Version: 20241125
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