Gigaba receives SAA turnaround strategy
03-Apr-2013 The South African Airways has submitted its long-term Turnaround Strategy to Public Enterprises Minister Malusi Gigaba, the airline said on Wednesday.
SAA said in a statement that the submission of the strategy was in line with Gigaba's directive issued on 15 October 2012 during SAA's Annual General Meeting.
"Minister Gigaba indicated that SAA must develop and submit a long term turnaround strategy aimed at improving the airline's financial sustainability and operational efficiency," it said.
The statement quoted acting board chairperson Dudu Myeni as saying the strategy was the first, all-encompassing for the airline and a defining moment in SAA's 79 years of existence.
"The strategy will be followed by a comprehensive implementation plan aimed at ensuring successful delivery of its objectives, once reviewed by the Department of Public Enterprises," said Myeni.
There would be a three-phase implementation approach of the strategy, with continuous and cyclical monitoring and review over a twenty-year period.
"There will be specific and measurable outcomes in each of the three implementation phases… Consequently, the impact will be felt from year one of the implementation, whilst other interventions will take place in the medium and long term phases of the strategy."
One of the key elements of the strategy was increased focus and emphasis on governance and accountability. SAA believes these will go a long way in restoring the airline's reputation in the global markets and among its stakeholders. - SAnews.gov.za