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The restructuring will not lead to a full breakup of the state-owned carrier, spokesman Tlali Tlali said by phone on Monday. Reuters earlier reported the plan to separate into three divisions.
SAA Chief Executive Officer Vuyani Jarana is under pressure to show he’s making progress turning around the carrier, which hasn’t made a profit since 2011 and has R9.2bn ($653m) of debt due at the end of March. Last year, the airline received a R5bn government bailout to cover looming payments, but it’s unclear if the National Treasury will stomach another outlay.
Cyril Ramaphosa: The Audio Biography
Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg.