SAA to split into three – CEO

PUBLISHED: Mon, 18 Feb 2019 12:03:15 GMT


JOHANNESBURG (Reuters) – South Africa’s struggling state-owned airline is to break into three business units as part of a restructuring plan, its Chief Executive Vuyani Jarana said on Monday.

Jarani said the firm – which has not made a profit since 2011 and was given a 5 billion rand bailout last year to shore up its balance sheet – will be split into domestic, regional and international business units, each with their own management.

Reporting by Olivia Kumwenda and Tiisetso Motsoeneng; writing by Emma Rumney; Editing by Kirsten Donovan

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