SAA considers its routes to solvency

SAAis exploring funding options for the business and investigating corporate governance failures as part of a 90-day action plan intended to restore the state-owned carrier to solvency. “SAA is serious about rebuilding commercial sustainability and we will achieve our objectives,” acting chief executive Nico Bezuidenhout said yesterday. “Tasks completed… include a review of the long-haul international network (and) a re-evaluation of fleet requirements.” SAA is technically bankrupt and surviving off state-guaranteed loans as an ageing fleet and unprofitable routes contribute to heavy losses. – Bloomberg