Gov­ern­ment give SAA wings… again

Finweek English Edition - - The main stories this week -

SAA IS SET to re­ceive hun­dreds of mil­lions of rand from Gov­ern­ment to en­able it to ac­quire long-haul air­craft and to ex­pand its route net­work and ser­vices. This de­spite the fact that dur­ing the pre­vi­ous re­cap­i­tal­i­sa­tion, Gov­ern­ment said it would never again re­cap­i­talise SAA. Transnet plans to un­bun­dle SAA as a stand-alone com­pany by the end of the year. IN A SCATHING edi­to­rial Busi­ness Day said: “Gov­ern­ment is ob­vi­ously de­ter­mined to keep SAA afloat what­ever the cost to tax­pay­ers, ar­gu­ing that it per­forms a strate­gic func­tion in es­tab­lish­ing busi­ness and tourism links. That be­ing so, the chal­lenge is to im­ple­ment a strat­egy that will lead to the air­line mak­ing sus­tain­able prof­its so that it can ul­ti­mately be sold off.”


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