Issued by Ministry of Public Enterprises
21 September 2001
The Minister of Public Enterprises has noted the financial results of SAA, which were released by the airline today.
The results are indicative of historical circumstances and poor market conditions and are unlikely to influence future financial performances.
The primary reasons for the unfavorable results have been identified by SAA and are well known.
We support the back to basics approach outlined by the new management of SAA. As government we are committed to strengthening corporate governance in the airline.
Despite the current unfavorable market conditions SAA is now poised to benefit from a strong new leadership and has the support of myself as Minister of Public Enterprises as well as my Department as it heads towards profitability. The board, executives and employees of SAA are assured of the support of government as they enter the new era as Africa’s airline of choice.
For more information please call
Sol Masolo
082 903 2423
(012) 431 1072