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SAA needs an equity partner to be successful, says Mabuza

Deputy President David Mabuza was answering questions from Members of Parliament in the National Assembly.

© brians101/123rf.com

CAPE TOWN - Deputy President David Mabuza on Thursday said an equity partner is what would save struggling national carrier South African Airways (SAA).

He said an additional private investor in the airline, which is receiving a R10.5 billion obligation, is exactly what the company needed to be successful.

Mabuza was answering questions from Members of Parliament (MPs) in the National Assembly.

Democratic Alliance (DA) Chief Whip Natasha Mazzone asked him about plans to mitigate the negative effects of budget cuts on other departments to fund SAA.

She said the airline had no capacity to turn around its finances.

“Please understand when I say that I have no belief that this airline has any capacity, regardless of how much money you pump into it, to turn itself around.”

The deputy president says the damage to SAA happened over time due to mismanagement.

He says a private investor will provide greater oversight.

“We thought that to run this airline as government alone, we’re opening ourselves to abuse. Now getting an equity partner that will help government so that we can have (four) eyes and four ears that can run this airline.”

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