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You have your facts backwards: SAA is actually very operationally profitable. The loss came from hedging policies and a lack of good corporate governance. If the government wants to impose unqualified managers and board members on SAA, then they should bail the airline out when those people screw up. Without government interference, including their detrimental EE policies, SAA would be thriving.
SA Airlink, on the other hand, is hopelessly insolvent. They were forced to acquire aircraft by SAA (ERJ135) that are too small and too expensive for the Southern African environment. They have been sucking hind tit on the lease payments ever since they acquired them. Rodger also gambled on the Yamasoukro Agreement being implemented, and that will never happen while SAA is such a behemoth. Other counties airlines would be eaten up by SAA if that was ever ratified. If you work for Airlink, I suggest that you demand full disclosure on the financial condition of all of the companies associated with your operation, not just those that management chooses for you to see. I fear that Airlink will not survive without SAA. I have many friends there and I would suggest that they all start applying to SAX or One Time. Those are the two airlines that, in my opinion, have the brightest future.
I hear that the Airlink pilot union is also in disarray and members are resigning en masse. Not a good time for a split when faced with the above.