Ail­ing SA Air­ways set to re­struc­ture

Finweek English Edition - - Main stories this week -

WHAT HAP­PENED

SA AIR­WAYS PRE­SENTED a pro­posed re­struc­tur­ing that would see the na­tional car­rier split into six di­vi­sions and pos­si­ble re­trench­ments. SAA has cho­sen Se­abury Air­line Plan­ning Group to guide it through the process. SAA posted an in­terim loss of R652m in Septem­ber 2006. The group’s chief fi­nan­cial of­fi­cer Gareth Grif­fith said he ex­pected to post an even big­ger loss in the full-year re­sults in March. BUSI­NESS DAY re­ported: “Lead­er­ship is key to re­struc­tur­ing, par­tic­u­larly when it’s painful, as this one will be. Ngqula (CEO) needs to shed him­self of his many out­side re­spon­si­bil­i­ties and demon­strate to his peo­ple that they are his pri­or­ity.” The Cit­i­zen crit­i­cised Ngqula’s lead­er­ship, say­ing: “SAA cer­tainly needs a shake-up, but is Ngqula the right per­son at the con­trols? We say no.”

WHAT OTH­ERS SAID

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