Saa Plans To Self-fund - Lamola

SAA requires no capital injection or bailout and plans to operate and grow using its own revenue. This is according to John Lamola , the newly appointed Group CEO of SAA, who said in an interview with eNCA that the airline had developed a three- to five-year corporate plan aimed at ensuring long-term structural and financial stability.

SAA will no longer have to depend on any contribution from the shareholders so-called bailouts. We have crafted a business plan, which says that we will be able to run SAA for the coming two to three years out of our own operational revenues, said Lamola.

Beyond this, over the next three to five years, the airline will focus on elevating technical expertise and expanding market reach. Achieving this, Lamola said, might require a partnership with another airline. However, for now, SAA is not actively seeking a strategic equity partner and has not approached National Treasury for funding.

As part of its financial strategy, SAA aims to establish a cash buffer to cover fixed costs in the event of another global crisis.

Lamola said the airline was now at a point where financial institutions were approaching them because they saw the progress SAA was making.