SAA may miss salary payments

Officials have been reluctant to relinquish a majority stake that would grant a partner management control. Having a home base at the southern tip of Africa also makes it harder for SAA to develop a hub for long-distance flights.

But if the government stops propping up SAA, the other options are also painful. Winding down the airline could cost the government between R25-billion and R40-billion, if SAA's debts to lenders, fuel suppliers, leasing companies and other creditors are honoured, according to calculations by analysts and SAA.

Gary van Staden, a political analyst at NKC African Economics, said the SAA crisis showed Ramaphosa needed to act decisively to revive economic growth. "If he blinks now, he will find it that much harder in future to demonstrate his determination to take the tough decisions that any prospect of economic recovery requires. SAA is simply not worth saving," van Staden said.

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