Airports Company South Africa (Acsa) on Tuesday said it was weighing its options with flights still not set to resume during the lockdown.
Acsa has told government it will need guarantees for the next five years so that it can borrow R11 billion.
The lockdown has seen planes grounded and the state-owned enterprise needs to make money.
With travel bans currently in place, Acsa said it needed to take action now.
All local and international flights have been grounded since March.
Acsa has committed itself to reducing costs and cutting some services but hasn’t given details.
The airports operator said there would be no recruitment for the next three months, no bonuses and only essential expenditure for this year would be allowed.
Acsa said its plan for the next three years had already been approved by the board and transport ministry and it would now have to be reviewed.