SAA: Entire airline industry is suffering
New SAA chair, Vuyisile Kona, said the entire airline industry is suffering financially.
CAPE TOWN - South African Airways' (SAA) new chairperson Vuyisile Kona on Tuesday said while the airline's finances are not looking good there was no crisis.
The embattled national carrier has been hit by a series of high profile resignations in recent weeks.
CEO Siza Mzimela and two senior managers quit this week after chairperson Cheryl Carolus and several board members tendered their resignations towards the end of last month.
The airline is expected to report a loss of R1.25 billion when it holds its annual general meeting next week.
Kona said the entire industry was feeling the financial pinch.
"Everybody in the industry is suffering, not just SAA. We just need to tighten our belts. This is a tough industry that relies on relationships."
Earlier this month, National Treasury announced that SAA had been given a R5.9 billion government guarantee for a recapitalisation programme.