STATEMENT ON SAA

SAA has been through difficult challenges over the years, and more particularly in past few weeks.

The strike initiated by NUMSA and SACCA caused immense damage to the reputation, operations, and the deterioration of the finances of SAA.

SAA , therefore, cannot continue in its current form.

The airline group will now go through a radical restructuring process which will ensure its financial and operational sustainability. There is no other way forward.

The SA govt is committed to a viable, sustainable, profitable national airline. In pursuance of this, various options are being explored.

Over the past few days there has been intense discussions with lenders to secure the necessary funds to cover the operational and structural transition over the next few months.

It is our collective responsibility as South Africans to support SAA in its efforts to restore sales confidence among its customer base and rebuild revenues in the shortest possible time.

We therefore reassure customers and encourage them to buy tickets with confidence.

SAA is determined to remain open for business. Management is also committed to ensure financial sustainability going forward.

SAA Board and management will intensify its marketing campaigns to rebuild confidence in the airline and will take bold initiatives to increase its market share.

Statement issued by Pravin Gordhan, Minister of Public Enterprises, 1 December 2019