Taking business plan to financiers as govt will no longer bail it out.
South African Airways (SAA) might be heading for turbulence again - three years after exiting business rescue and a failed Takatso transaction.
This is according to the airline's chief commercial officer, Tebogo Tsimane, who said the airline needs an equity partner to save it. Tsimane made these remarks at an AviaDev aviation seminar recently
Earlier this year, National Treasury reported a SAA loss of R771 million in the airline business and R51 million in the red at SAA Technical.
Tsimane made it clear that SAA needed an investor quickly or it would face financial difficulty.
He said that for SAA to succeed, it needed a private owner with a controlling stake in the airline.
Tsimane said that the airline has been taking its business plan to possible financiers.
"We have just come out of business rescue. We have been told by our shareholder that we will no longer get a cent.
"So, what are we doing? We are taking the business plan to the financiers and we believe that we have a case and that the financiers, some of them, not all of them, some of them will actually come to the party and say, yes, we agree with what you are doing," he said.
Bu hikaye The Citizen dergisinin July 16, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Citizen dergisinin July 16, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
US blamed for expo row
Analysts warn exclusion could have dire consequences for SA down the line.
4900 visas for critical skills jobs
South Africa has a list of almost 150 jobs considered by the department of employment and labour (DEL) to be in short supply.
Nsfas to decentralise
Department welcomes move, plans to set up regional, satellite offices.
Lawsuits cost health billions
Investigations stop R3 billion in fraudulent claims, parliament hears.
City face Inter reunion
Manchester City are braced for their Champions League reunion with Inter Milan at the start of an expanded tournament that will be \"so tough\" for the 2023 winners.
League Cup no inconvenience
Manchester United manager Erik ten Hag insisted he still believed English football's League Cup remained a \"significant\" competition.
State of rates in Africa
Africa’s largest economies to make changes for first time in years.
RAF not about to 'implode'
»» Improvements not sustainable without legislative changes, says Letsoalo.
Can Superbalist grow?
Shein overtakes the SA retailer, while Bash is different kind of threat.
Crochet gets sex appeal
100% cotton yarn garments do not loose shape ina cold wash.