South Africa: Minister Nhlanhla Nene on South African Airways

press release

In October 2014, Government took decisive steps aimed at putting South African Airways (SAA) back on a path to financial sustainability.

The Minister of Public Enterprises, who was government's shareholder representative at the time, reconstituted the Board. The Board was tasked with ensuring that immediate steps were taken to curtail the losses at the airline, improve the company's liquidity position, strengthen governance, finalise the annual financial statements and refine the Long Term Turnaround Strategy (LTTS) developed in 2013 so that the intended improvements in performance would be delivered.

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