• Inside Labour

    The 'casualisation' of the workforce is often a ploy to cut costs, says Terry Bell.

  • When drones go dancing

    Drone technology's future is about to come to life in Cape Town, says Arthur Goldstuck.

  • Testing times for Matona

    New Eskom CEO Tshediso Matona has his work out cut out for him, says Mzwandile Jacks.

Data provided by iNet BFA
Loading...
See More

Gigaba: SAA seeks aid for new fleet

May 16 2012 18:09 AFP

Related Articles

SAA asks govt for R6bn - report

SAA upgrading, not expanding fleet

SAA rebrands for Mandela Day

 
Cape Town - Beleaguered national carrier South African Airways (SAA) is looking for additional state aid to buy a new fleet of aircraft, Minister of Public Enterprises Malusi Gigaba said on Wednesday.

"Shareholder support for SAA to procure a more modern and fuel efficient fleet is vital if it is to remain competitive," Gigaba told parliament.

The state-owned company has a long history of turning to the Treasury for financial aid. The opposition Democratic Alliance said Tuesday that about R18bn had been spent on SAA bailouts since 2004.

But Gigaba denied that the new purchases amounted to a bailout.

"SAA has not come to us and said we are in the red, please help us out with money," the minister told reporters.

He said the government was driving a new African aviation strategy "aimed at focusing the state-owned airlines on opportunities in the continent and on promoting regional integration".

"The fact is that Africa must constitute the primary market and route for the future South African Airways," Gigaba said.

The minister would not discuss the cost of the project or indicate the size of the new fleet.

Teddy Daka, SAA's non-executive director, said the company did not favour any one aircraft maker.

"Whichever aircraft manufacturer meets the kind of requirement that we're going to need is the one that's going to get the business," Daka said.
malusi gigaba  |  saa
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Expanding your business requires capital and banks have stringent lending criteria in place.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...