/ 26 June 2006

No equity partner for SAA, says Erwin

No strategic equity partner is being contemplated for state-controlled South African Airways (SAA) “at this stage”, Minister of Public Enterprises Alec Erwin reports.

In a reply on Monday to Democratic Alliance finance spokesperson Ian Davidson, who asked in light of the continued financial and operational problems of the airline if the minister was contemplating bringing such an equity partner aboard, he said:

“The airline industry is a difficult and highly competitive one. To meet these challenges the [public enterprises] department is continually attempting to improve its risk management in regard to SAA and the board and management of SAA are making good strides in improving their risk management and performance.”

“A major strategy review has been undertaken and announcements in this regard will be made as it is appropriate,” said Erwin. — I-Net Bridge