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SAA Taking ‘Sensible Measures’ To Effectively Use R3.5bn From Development Bank

SAA Taking ‘Sensible Measures’ To Effectively Use R3.5bn From Development Bank

South African Airways (SAA) said that it was taking sensible measures to ensure that the money it receives from the Development Bank of Southern Africa improved the airline’s productivity.

The bank has committed to giving the cash strapped airline R3.5 billion in emergency funding.

The airline has been fighting for its survival after it entered a form of bankruptcy protection in December.

It has cancelled scores of flights because of cash shortages.

But chief commercial officer Philip Saunders said that the airline had a plan.

“It’s about having a serious plan that enables the airline to move forward in a confident way with enough backing to address the issues that it has and to become, as we keep saying, a viable airline, with a viable route network with a strong commercial strategy and equally other measures being taken to address the cost base, which haven’t always been taken in the past.”

EWN

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