SAA has submitted its long-term turnaround strategy to Public Enterprises Minister, Malusi Gigaba.
The handover was done this week by Dudu Myeni, acting chairperson of the SAA Board.
The submission of the strategy is in line with Gigaba’s directive issued last October. He indicated SAA must develop and submit a long term turnaround strategy aimed at improving the airline’s financial sustainability and operational efficiency.
“SAA considers the submission of this strategy on time to its shareholder as a clear indication of its commitment to ensure its implementation is accompanied by measurable deliverables within specific time frames.
“This is the first, all-encompassing strategy for the airline and a defining moment in SAA’s 79 years of existence.
“The strategy will be followed by a comprehensive implementation plan aimed at ensuring successful delivery of its objectives, once it has been reviewed by the Department of Public Enterprises” she said.
There will be a three-phase implementation approach of the strategy with continuous and cyclical monitoring and review over a 20 year period. There will be specific and measurable outcomes in each of the three implementation phases (short, medium and long term).
“Consequently, the impact will be felt from year one of the implementation while other interventions will take place in the medium and long term phases of the strategy.
“One of the key elements of the strategy is increased focus and emphasis on governance and accountability. These will go a long way in restoring SAA’s reputation in global markets and among its stakeholders,” Myeni added.
Details of the strategy will be made public at large after the Department of Public Enterprises has reviewed it and endorsement has been received from National Treasury.