SAAPA welcomes injection of Business Rescue funding
29 January 2020
The South African Airways Pilots’ Association (SAAPA) welcomes the announcement by the SAA Business Rescue practitioners that R3.5 billion of funding from the Development Bank of Southern Africa has been secured.
We hope that this vital financial injection will generate the desired return on investment and give our loyal passengers the comfort to return to purchasing tickets on SAA.
We also trust that the Business Rescue practitioners will now take the strong decisions needed to save the airline that result in efficiency and accountability. SAAPA has repeatedly called for the appointment of a robust, accountable management team at SAA. Until now, government has failed to hold management accountable for the downward spiral of the airline and this cannot continue.
Just last week, President Ramaphosa stated that “a major focus of [government’s] work this year is to restore our SOEs to health. We will do this by appointing experienced and qualified boards and managers.”