File: Union officials claim SAA is a profitable organisation that's being undermined by looters.
File: Union officials claim SAA is a profitable organisation that's being undermined by looters.
JOHANNESBURG - There may be some hope for South African Airways.
Although the airline comes with serious liquidity issues, some experts say the carrier remains a viable business.
SAA told trade union Solidarity it’s now seeking a strategic equity partner to help improve its finances.
The union, in turn, abandoned its application to have SAA placed under business rescue.
SAA is in desperate need of financial support.
It hasn&39;t had an operating profit for the past six years.
The airline now wants to improve its balance sheet to make buy-in more attractive to potential investors.
But this may not be possible given the financial mess it finds itself in.
A strategic partner will need to change a number of factors in order for SAA to operate effectively.
