South African Airways to reduce losses before receiving financial assistance
South African Airways will only receive assistance from the government once its management board has been strengthened.
The carrier’s turnaround programme is progressing, however deputy finance minister Mcebisi Jonas has said that it still needs to increase revenues and reduce losses.
Jonas also said the treasury is finalising the appointment of a full-strength board for the airline, which will lead to permanent chief executive and chief financial officers being put in place.
“Once all of these are implemented, government will be in a position to consider possible support that would enable SAA to table its annual financial statements for the last two years, as a going concern,” said Jonas.
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