After speculation over which southern African airline Qatar Airways would buy, Prof. John Lamola, Interim CEO of SAA, has confirmed that it isn’t SAA.
Lamola was speaking at the African Aviation Summit on Wednesday, May 22. Following the carrier’s private equity deal with the Takatso Consortium, which fell through in March, Lamola highlighted some of the qualities that the Board of SAA was looking for in a potential strategic partner.
“We are South Africa’s national carrier… and we’re looking for a partner that will respect the mission of SAA,” said Lamola, adding that SAA’s strategy was aligned with the current National Development Plan.
The second characteristic of any potential equity partner, explained Lamola, was a capital injection.
“SAA requires a financial injection to recapitalise SAA in its second phase, where we will be moving into the modernisation of our fleet in line with the global requirements of decarbonisation,” he said.
In addition to modernising its fleet, Lamola underscored that the airline continued to be a training ground for the development of skills within the country’s aviation sector. He also emphasised that SAA was committed to providing opportunities for previously marginalised groups such as women.
As part of what Lamola refers to as its ‘post-Takatso strategy’, he said SAA was engaging in discussions with various government bodies, such as the Department of Transport, on how it could grow without jeopardising the stability of the airline industry.
When asked if SAA had enough cash in its coffers to remain viable, Lamola said it was blessed with “a very strong balance sheet”.
“We have a debt-free balance sheet.”
