South African Airways plans to increase its destinations from its hub in Johannesburg by two-thirds by the end of April as it rebuilds its business to focus on regional and international routes after a deal with an investor collapsed .
The company is aiming to add nine destinations to its existing 14 and also plans to boost the number of aircraft by 50% to 21 by March, interim Chief Executive Officer John Lamola said, adding that the South African flag carrier has the cash to fund its expansion.
We are cash positive as a company, and we are able to survive in the next 12 to 18 months on our own, Lamola said in an interview with Bloomberg Television in Johannesburg. Our strategic position is to differentiate ourselves as a national flag-carrier to be able to offer the country the connectivity with key investment and trading partners.
The airline, founded in 1934, has had rely on taxpayers for years until its bankruptcy following the pandemic. A plan by the government to sell a 51% stake in the carrier was abandoned in March, forcing the company to scale back its expansion plans. While South African Airways wont seek bailouts, it would ask for sovereign guarantees to expand over the next three years, Lamola said.
Lamola said the company could not comment on the nine new destinations, as it was commercially sensitive.
