South African Government hopeful SAA can break even in 2021

    South Africa‘s Deputy Minister of Finance Mondli Gungubele said South African Airways (SAA) is expected to record net losses of ZAR5 billion (USD401.9 million) in FY2018/19 and ZAR2 billion (USD160.7 million) in FY2019/20 as it implements its turnaround strategy (Fin24, 25-Apr-2018). The government hopes the airline will break even in 2021. Mr Gungubele said the impact of “throwing this entity away” rather than restructuring would be at least ZAR60 billion (USD4.8 billion). He said: “We accepted that it is worth it to stick it out”.