SAA (South African Airways) has completed its 90 Day Action Plan, a roadmap designed to return the carrier to relative stability.
It was developed to return the business to full implementation of its broader and now refined turnaround plan, the Long-Term Turnaround Strategy.
“We worked closely with our shareholding Ministry, National Treasury, to work toward and realise the objectives of the 90 Day Action Plan. SAA has returned to relative stability,” the airline’s acting chief executive Nico Bezuidenhout said.
The plan comprised six main areas of focus as tasked by the SAA board. These were to immediately address the airline’s liquidity position, its ongoing solvency and medium-term funding requirements.
Among the interventions decided on are: immediate investigation of options to future-fund the business; substantial focus on governance defects and remedies: legal and high-level governance; re-organisation and optimisation of assets and improved communication.
The national airline said it will announce details at a media conference mid-April following an audit of the 90 Day Action Plan outcomes.
SAA connects South Africa to its major trade and tourism partners, supports 33,000 jobs in South Africa and contributes R10bn or approximately 0,3%, to the country’s GDP every year spokesman Tlali Tlali said. About 40% of all passengers and more than 50% of all air cargo within and to South Africa last year was carried by the SAA Group or under the SAA code.
“No South African airline trains more pilots and technicians, procures more from local suppliers or has taken more steps to protect the environment than SAA,” he added.