South African Airways seeks R3 billion capital injection to support plans, will not privatize.

South African Airways (SAA) requires a R3 billion capital injection to support its long-term plans, according to board chair Derek Hanekom, who confirmed the airline will not be privatized. SAA is looking for a strategic equity partner and is in talks with banks for a loan facility to address financial challenges. Currently operating 16 aircraft, the airline aims to expand its fleet to 21 while retaining market share amidst ongoing financial recovery efforts.

October 22, 2024
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