Saa Seeks R2,25bn, Eyes New Routes

SAA is looking to raise R2,25 billion and secure a strategic equity partner as part of a five-year restructuring plan.

The airlines ambitions, reported by Business Day , also included applying for rights to routes between South Africa, Asia, Australia and New Zealand.

During an interview with the Money Show's Stephen Grootes , John Lamola , CEO of SAA, said the funding drive was not a new initiative but a continuation of the post-business rescue plan the airline had been following since it resumed operations.

Aviation consultant, Sean Mendis , told Travel News , that SAA had emerged from business rescue upon acceptance of a business plan that required the airline to take on a strategic equity partner.

SAA had previously attempted to fulfil this requirement by selling a 51 stake to the Takatso Consortium in March 2024, but the deal had fallen through, explained Mendis.