ANC commends SAA’s positive turnaround and financial success

22 November 2023

The African National Congress (ANC) commends South African Airways (SAA) for achieving a remarkable milestone in the 2022/23 financial year, as presented by its interim Board at the airline's Annual General Meeting (ACM).

SAA has posted a net profit of R252 million, marking its first profit in over a decade. This significant achievement reflects the ANC's unwavering commitment to professionalising the public service and revitalising state-owned enterprises (SOEs), as outlined in our manifesto.

The ANC applauds SAA's extraordinary 183% revenue growth, from R2 billion to R5.7 billion, and its impressive tumaround from a RI billion loss to a R277 million profit in earnings. These results demonstrate the airline's steady progress towards financial recovery, operational stability, and sustainable growth.

Three years since its relaunch, SAA has become a model of resilience among state -owned enterprises, alongside other successes like Eskom, under the ANC-led 6th Administration's progressive leadership.

Notably, SAA's recovery has also contributed to job creation, with staff numbers increasing from 800 to approximately 2,000, including 140 pilots. This growth underscores the airline's role in empowering South Africans and advancing the country's socio-economic development.

The ANC has consistently championed the vision of a financially independent and sustainable SAA, free from reliance on state funding, while contributing to South Africa's broader developmental goals. The airline's expanding network of routes and its return to profitability signify that SAA is not only recovering but thriving, positioning itself to drive economic transformation and growth.

SAA's revival aligns with the ANC's mandate to stimulate tourism, trade, and economic development. The airline's strengthened position ensures it can fulfill its dual role: maintaining commercial viability while advancing its national developmental mandate. Furthermore, SAA's progress supports the transformation of the aviation sector, fostering inclusive growth and enhancing South Africa's global connectivity.

The ANC remains steadfast in its commitment to ensuring the long-term sustainability of SOEs through the development of a centralised state-owned model. This approach will enhance the strategic contribution of all SOEs to the economy, ensuring they become pillars of national transformation and empowerment.

By implementing these measures, the ANC envisions a future where SOEs are self-sustaining and serve as catalysts for job creation, economic empowerment, and national development.

The ANC reaffirms its commitment to building an ethical, capable, and democratic developmental state where SOEs like SAA play a pivotal role in advancing the interests of all South Africans. SAA's success is not just a triumph for the airline but a victory for the people of South Africa, showcasing the strength of collective effort and visionary leadership.

Issued by Mahlengi Bhengu-Motsiri, National Spokesperson, ANC, 22 November 2024