Turbulence ahead as SAA records massive loss

STOCK IMAGE: SAA, South African Airways, ORT Airport,Oliver Reginald Tambo International Airport.

File: South African Airways is taking action against a pilot. That's after it emerged he may have misled officials about his qualifications.

eNCA

JOHANNESBURG - South African Airways (SAA) recorded a R1.5-billion net loss due to fewer passengers and higher fuel costs, among other reasons.

The national carrier on Tuesday briefed Parliament on its first-quarter report.

The airline’s appearance comes a week after Chief Financial Officer Phumeza Nhantsi was suspended.

READ: Critics slam SAA for signing R35-million security contract

SAA CEO, Vuyani Jarana, said the airline is battling with its management’s inability to implement strategy.

He told MPs the airline has lost market share to Gulf carriers like Emirates, Turkish Airlines and Qatar.

SAA board chairperson, JB Magwaza, said the airline must be restructured but warns the process will be painful and turbulent.