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Gigaba: We can turn SAA around

Oct 23 2012 12:46 James-Brent Styan

Public Enterprises Minister Malusi Gigaba

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Cape Town – Minister of Public Enterprises Malusi Gigaba said he believes that South African Airways (SAA) can be turned around.

Gigaba said recent developments at the airline have not had a significant impact.

“Some board members left, but many were nearing the end of their terms on the board. That’s why it was possible to announce a new board so quickly after they’d left.”

Gigaba said the resignations of CEO Siza Mzimela and two of her executives have also not had a detrimental effect.

“Only three out of 14 executives resigned. The other 11 are still there.”

Gigaba was giving a presentation before parliament’s portfolio committee on public enterprises.

Gigaba said he believes SAA can be turned around. He indicated that the biggest challenges are SAA’s debt burden, its ageing fleet and the high oil price.

He indicated that one of the ways SAA may be moving forward is to reconsider the use of its low-cost subsidiary Mango.

“Domestically the low cost-carrier will take more routes. It has already proven itself on the route between Cape Town and Durban. Mango as an SAA subsidiary is a very good airline and is doing excellent work,” Gigaba said.

 - Fin24

Follow James-Brent Styan on Twitter @jamesstyan.

 
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