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SAA acting CEO: We understand lender hesitation

Eyewitness News logo Eyewitness News 2017-09-14 Eyewitness News
South African Airways plane. © AFP South African Airways plane.

JOHANNESBURG - Acting SAA CEO Musa Zwane says he doesn't blame lenders for refusing to give money to the cash-strapped national carrier.

SAA will fly 23% fewer flights from the end of the year as it tries to return the company to profitability.

The airline received money from the government to pay its debts in July and Treasury is considering another R13 billion bailout.

Zwane says he doesn't blame lenders who want their money back.

“In fact, I would do the same if I was them. However, I think if we go to them with a proposition that they believe in, that they believe will yield positive results, then I am quite sure if I were them I would put my money into SAA.”

He also says the company needs to introspect.

“I mean, you know, through history we’ve been changing leadership frequently and that is not good in ensuring that you have a strategy that is delivered and implemented properly.”

(Edited by Refilwe Thobega)

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