SAA business partner still on the table

2014-11-20 10:44

Whether or not the government takes on a strategic business partner for the embattled South African Airways remains under discussion.

“It will come out in terms of a process that is happening in SAA at the moment. I still want a turnaround strategic person or company to be appointed, to help us in SAA to work off our balance sheet,” Public Enterprises Minister Lynne Brown has said.

Speaking at a government economics cluster media briefing, she stressed that the state did not have money to bail out South African Airways.

“And I think that came out very clearly in the [recently-tabled] medium-term budget policy statement.”

Brown repeated that her department needed to look at a new business model for SAA.

“And then, to match that, a new financial model. And within that financial model, it will then determine whether we take a strategic partner, or whether SAA can live off its balance sheet.

“So it remains in the pool for discussion. It hasn’t been removed,” she said.

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