South African Airways says reaches debt roll over deal

📆 4/30/2019 12:01 PM
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State-owned South African Airways (SAA) has reached an agreement in principle with lenders to roll over its existing debt of R9.2 billion ($641.55 million), its chief executive officer said on Tuesday.

Vuyani Jarana told reporters at a CAPA aviation summit in Dubai that SAA — which has not made a profit since 2011 — is “aggressively pursuing” profitability in 2021 and is looking to expand its network in 2019 and reduce costs.

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