South African Airways is basically bankrupt on the edge of being liquidated by the administrators.
Employees have been offered severance packages but the various labor groups have not yet agreed to the packages.
According to Bloomberg, the government of South Africa is seeking to create a new national carrier to replace SAA using the remaining assets.
SAA administrators were working on a recovery plan before the COVID-19 crisis. The virus grounded all aircraft. New they are proceeding with a liquidation of there assets after the government did not want to proceed with a bailout.
South African aircraft photo gallery: