The strike at South African Airways SOC Limited (SAA) with consequential cancellation of bookings has resulted in a sudden deterioration of SAA's financial position.
Accordingly, the Department of Public Enterprises is working together with SAA to urgently formulate immediate actions that will be required to provide support to enable SAA to carry on its business. However, SAA cannot continue "as is".
Government efforts, under the direction of Minister of Public Enterprises, Mr. Pravin Gordhan, are focused on ensuring that:
The airline is stabilized in the short term and has the necessary support from all stakeholders;
Governance and leadership issues are being addressed including the process of appointing an effective Management Team; and
The airline returns to a stronger financial footing in the medium to longer term.
None of this can be achieved without the necessary contributions by all the key role players in the airline.
The actions being undertaken by the Minister include involving relevant stakeholders so that they can participate in the support initiative.
Further details will be provided over the next week.
Issued by: Department of Public Enterprises