Zuma says govt will never sell SAA

(iStock)
(iStock)

Kempton Park - The government will never sell the national airline, South African Airways, President Jacob Zuma said on Friday.

SAA has received a number of government bailouts worth billions of rand and is in the middle of a turnaround strategy.

"Government is very clear, we will never sell this company, no matter what other people say," Zuma said at SAA's offices in Kempton Park, near Johannesburg.

SAA needs to reduce its losses and start making money, Deputy Minister of Finance Mcebisi Jonas said on Wednesday, reported News24.

''We expect more from the company and its leadership in this area,'' said Jonas after acknowledging that the airline was making progress with its turnaround strategy involving at least R14.4bn so far in loan guarantees.

Jonas told MPs during debate on Treasury's budget that a process to finalise appointment of a board was underway and once appointed, the board would have to appoint competent executives in the vacant positions of CEO and CFO, among others.

The authority over SAA's board falls under the Treasury since 2014.

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