SAA presents turnaround strategy
SAA CEO Siza Mzimela presented the airline's turnaround strategy in Parliament on Tuesday.
CAPE TOWN - High fuel prices are to blame for South African Airways (SAA)' financial woes, the airline said on Tuesday.
SAA CEO Siza Mzimela presented the company's turnaround strategy to Parliament's Portfolio Committee on Public Enterprises in Cape Town.
She said the airline was battling due to global factors and said other carriers were also affected.
Mzimela added that Comair posted a loss for the first time in 61 years, and an American airline is filing for bankruptcy.
However, the CEO remains upbeat about SAA's prospects.
She said there was a huge demand for flights to Africa and the national carrier will soon develop three additional routes.
Earlier in 2011, SAA asked government for R6 billion to renew its fleet.
The company is still waiting for government to make a decision on the recapitalisation request.
The airline denied that the request was a bailout.