How South African Airways ended up in bankruptcy protection

Every year from 1994 to 2015, South African Airways was recognized as Africa’s Leading Airline by the World Travel Awards. Since the last time it won, Ethiopian Airlines has dominated the awards. This week the state-owned South African Airways went into “voluntary business rescue”—a form of bankruptcy protection similar to Chapter 11 in the United States, after South African president Cyril Ramaphosa decided it was the best way forward for the cash-strapped airline to resolve its myriad financial problems while continuing to operate.