Selling SAA not an option for government
The national carrier is in the middle of a turnaround strategy led by finance minister, Pravin Gordhan, that will include appointing a new board and chief executive and cutting costs and cancelling loss-making routes.
PRESIDENT Jacob Zuma says government will not sell South African Airways (SAA), as it has the potential to contribute to the growth of the country’s economy.
“We are going to work hard to ensure that we support SAA so that it can take off and reach the destinations that we want to reach. SAA promotes South Africa in many ways. We must have plans and we must be ready to make this a good company,” he said.
He was speaking during his visit to SAA headquarters in Johannesburg. During his visit to SAA, President Zuma held meetings with staff and the board, where he received reports about the performance of the company.
“I’m pleased by the board and senior management’s commitment to implement the Long-Term Turnaround Strategy to put the airline on a path of commercial sustainability,” President Zuma said.
SAA reported there was a positive turn in its financials for the fourth quarter of the 2015/16 financial year, which ended 31 March 2016.
