20°C / 22°C
  • Mon
  • 33°C
  • 19°C
  • Tue
  • 29°C
  • 12°C
  • Wed
  • 28°C
  • 11°C
  • Thu
  • 32°C
  • 15°C
  • Fri
  • 29°C
  • 18°C
  • Sat
  • 29°C
  • 15°C
  • Mon
  • 18°C
  • 12°C
  • Tue
  • 21°C
  • 11°C
  • Wed
  • 17°C
  • 11°C
  • Thu
  • 19°C
  • 11°C
  • Fri
  • 18°C
  • 13°C
  • Sat
  • 18°C
  • 13°C
  • Mon
  • 37°C
  • 19°C
  • Tue
  • 30°C
  • 13°C
  • Wed
  • 30°C
  • 12°C
  • Thu
  • 35°C
  • 18°C
  • Fri
  • 31°C
  • 20°C
  • Sat
  • 31°C
  • 17°C
  • Mon
  • 34°C
  • 17°C
  • Tue
  • 30°C
  • 14°C
  • Wed
  • 30°C
  • 13°C
  • Thu
  • 35°C
  • 16°C
  • Fri
  • 31°C
  • 22°C
  • Sat
  • 31°C
  • 18°C
  • Mon
  • 23°C
  • 16°C
  • Tue
  • 18°C
  • 14°C
  • Wed
  • 29°C
  • 16°C
  • Thu
  • 23°C
  • 17°C
  • Fri
  • 27°C
  • 18°C
  • Sat
  • 26°C
  • 19°C
  • Mon
  • 17°C
  • 13°C
  • Tue
  • 17°C
  • 12°C
  • Wed
  • 18°C
  • 11°C
  • Thu
  • 19°C
  • 12°C
  • Fri
  • 22°C
  • 14°C
  • Sat
  • 19°C
  • 15°C
  • Mon
  • 18°C
  • 10°C
  • Tue
  • 23°C
  • 9°C
  • Wed
  • 18°C
  • 9°C
  • Thu
  • 23°C
  • 10°C
  • Fri
  • 21°C
  • 11°C
  • Sat
  • 18°C
  • 9°C
  • Mon
  • 16°C
  • 11°C
  • Tue
  • 19°C
  • 10°C
  • Wed
  • 17°C
  • 11°C
  • Thu
  • 20°C
  • 12°C
  • Fri
  • 20°C
  • 13°C
  • Sat
  • 17°C
  • 12°C
  • Mon
  • 36°C
  • 23°C
  • Tue
  • 33°C
  • 17°C
  • Wed
  • 32°C
  • 15°C
  • Thu
  • 36°C
  • 18°C
  • Fri
  • 33°C
  • 21°C
  • Sat
  • 34°C
  • 19°C
  • Mon
  • 29°C
  • 14°C
  • Tue
  • 30°C
  • 10°C
  • Wed
  • 28°C
  • 13°C
  • Thu
  • 31°C
  • 11°C
  • Fri
  • 31°C
  • 13°C
  • Sat
  • 30°C
  • 14°C
  • Mon
  • 34°C
  • 17°C
  • Tue
  • 18°C
  • 14°C
  • Wed
  • 33°C
  • 14°C
  • Thu
  • 29°C
  • 17°C
  • Fri
  • 34°C
  • 15°C
  • Sat
  • 34°C
  • 19°C
  • Mon
  • 16°C
  • 10°C
  • Tue
  • 17°C
  • 9°C
  • Wed
  • 19°C
  • 11°C
  • Thu
  • 20°C
  • 10°C
  • Fri
  • 23°C
  • 14°C
  • Sat
  • 17°C
  • 13°C

Jarana: SAA can’t carry out turnaround plan without urgent funding

Parliament heard on Thursday that SAA is still struggling to achieve going concern status, amid a dire shortage of skills to effect its turnaround plan.

FILE: South African Airways planes. Picture: Facebook.com

CAPE TOWN - Deputy Finance Minister Mondli Gungubele says that government is seized with the issue of merging South African Airways with regional airline SA Express and low-cost carrier Mango.

Discussions between Treasury and the Department of Public Enterprises have been held this week to discuss this as a means to improve the financial position of the airline.

Parliament heard on Thursday that SAA is still struggling to achieve going concern status, amid a dire shortage of skills to effect its turnaround plan.

The board, however, says it’s not in favour selling off parts of the business for the sake of improving equity.

SAA chief executive Vuyani Jarana says the airline can’t carry out it’s turnaround plan without urgent funding.

“The funding structure on how we combine shareholder capital equity injection, strategy equity party or debt has to be defined as part of the capital structure of a business.”

While SAA now has too many pilots after reducing some of its routes, Jarana says the airline is suffering from a brain drain which is also hampering the pace of its turnaround.

“The task of transforming SAA, given the kind of history we are coming from, you can’t leave it to chance.”

Jarana says putting the airline into business rescue could set it back even further in the eyes of the international aviation industry.

(Edited by Shimoney Regter)

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus