I agree with Race Pilot that they went bankrupt;
HOWEVER They appear to be around in some form as I stll see some of their 74s in places like MIA and South America- I was in Bogota one night and saw like 3 74s. Maybe they were Chap 11 and trying to reorganize.
SA is apparently alive and well- their office is in Columbus, OH. You can see some pics of their aircraft from a few months back at airliners.net and also read a little about them at pprune.org- go to freight dogs. I believe they have a class of 12 or 13 going right now. I have a friend from the old SAT who flew 47's up until '97 for the old SAT and can't believe that there is now a SA (without the T).
Pilot Positions -
Southern Air, a premier FAA 121 Air Carrier, currently operating ACMI all cargo operations with 3 B747-200 aircraft is accepting resumes for Pilot positions. Candidate requirements include: Comm., Instrument, 3000 Hours TT, 500 Hours in large group II transport aircraft, ATP written, 1st class FAA medical, valid U.S. passport. Southern Air offers highly competitive compensation and benefit packages, including 401K. If interested please submit your resume to:
Southern Air, Inc. Attention: Human Resources 67 Glover Avenue Norwalk, CT 06850