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'SAA must implement strategy after bailout'

The National Treasury has asked SAA to come up with a turnaround strategy.

South African Airways plane. Picture: AFP.

JOHANNESBURG - The National Treasury has asked the South African Airways (SAA) to come up with a turnaround strategy, after handing the ailing national carrier a lifeline.

SAA has been granted a loan guarantee of R5 billion for two years on Tuesday.

The airline has been steeped in financial troubles and last week eight out of 11 board members resigned.

Public Enterprises Minister Malusi Gigaba on Wednesday said SAA now has to develop a plan that will help the airline over the next two years.

Public enterprises department spokesperson Mayihlome Tshwete said drawing up a turnaround strategy will be a process, one it is committed to.

Tshwete said the department would communicate its plans to the public.

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