Prospects Look Good for South African Airways

On July 14, nearly a month after the original deadline, South African Airways' long-awaited business rescue plan was accepted by the airline's creditors and the South African government, virtually ensuring that SAA will survive the COVID crisis. The government is looking for investors to help with the $1B price tag, so the process will probably drag on for a while, but prospects for South African Airways' survival look good.

All South African Airways reservations offices remain closed at this point, so travelers holding South African Airways tickets will need to continue their patient wait to change their reservations. Currently, the airline is allowing postponement until March 2022 for any travelers holding tickets for travel before August 31, 2020 – as SAA's planes remain grounded and flights are cancelled, there is a reasonable chance that this flexibility will be extended deeper into 2020.