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Troubled South African Airways restructures into three business units

TROUBLED South African Airways will create three units, domestic, pan-African and international, as the debt-laden state-owned airline attempts financial recovery, reports Bloomberg

Troubled South African Airways restructures into three business units

TROUBLED South African Airways will create three units, domestic, pan-African and international, as the debt-laden state-owned airline attempts financial recovery, reports Bloomberg

21 February 2019 - 19:00

TROUBLED South African Airways will create three units, domestic, pan-African and international, as the debt-laden state-owned airline attempts financial recovery, reports Bloomberg.

The restructuring will not lead to a full breakup of the carrier, spokesman Tlali Tlali said. Reuters earlier reported the plan to separate into three divisions.



S chief executive Vuyani Jarana is under pressure to show he's making progress turning around the carrier, which hasn't made a profit since 2011 and has ZAR9.2 billion (US$653 million) of debt due at the end of March.



Last year, the airline received a ZAR5 billion government bailout to cover looming payments, but it's unclear if the National Treasury will authorise another outlay.


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