South African Airways (SAA) is on the brink of collapse, reports
Bloomberg.
According to a proposal to labor groups viewed by the news
outlet, the carrier offered a severance deal to all 4,700 of its employees after
the South African government declined to provide more money to the state-owned
carrier and after bankruptcy administrators determined that a turnaround is
unlikely.
SAA was in trouble before the onset of the Covid-19 crisis,
having entered into bankruptcy, called “business rescue” in South Africa, in
early December.
All SAA flights have been grounded for the past few weeks
and its sales offices have been shuttered since March 31.
The carrier didn’t respond to a request for comment on Monday
afternoon.