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SA Express still needs more funding, says acting CEO

Acting CEO Siza Mzimela said the R1.2 billion bailout granted resolved solvency issues, but it didn’t resolve its working capital problems.

A general view of an SA Express plane. Picture: SA Express.

JOHANNESBURG - SA Express said on Thursday it would choose its destinations carefully after being grounded last year.

The airline said only six of its 22 aircraft were operating due to payment issues with the Airports Company South Africa.

Acting CEO Siza Mzimela said the R1.2 billion bailout granted resolved solvency issues, but it didn’t resolve its working capital problems.

“I think in the past we began to spread ourselves too thin and even started to operate on routes that really should have not been an SA Express-type route. One of the keys things that we are doing right now is making ensure that we focus our operations out of Johannesburg and Cape Town, but from both of those hubs operating into the smaller markets,” she said.

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