SAA may break even in three years under ‘very aggressive’ turnaround plan: CEO

    South African Airways (SAA) CEO Vuyani Jarana commented on the airline’s turnaround plan, stating: “We now have a clear strategy and clear path to profitability defined by the board” and adding: “We are looking at a three-year window to get to a break-even point. We continue to revise the strategy as we see more opportunities” (Bloomberg, 13-Mar-2018). SAA intends to suspend or reduce frequency on loss making services and transfer surplus aircraft to Mango. Mr Jarana said: “We are busy talking to the National Treasury about how to fund the new plan. We are quite clear that the new plan is solid and we are very aggressive about implementing it”. Plans to raise funds by offering a stake in SAA to an equity partner will be postponed, with Mr Jarana noting any potential investors would “most likely be attracted to an SAAthat’s actually dealt with its own challenges and restructured”.