South African Airways (SAA) is set to sell nine of its Airbus aircraft, of the designs Airbus A340-300s and A340-600s alongside 15 spare engines.
According to the airline’s acting CEO, Zuks Ramasia, the move seeks to pave way for acquisition of newer models of aircraft.
The decision to sell the aircraft has nothing to do with the business rescue process. For some time we had planned to replace our four-engine aircraft with the two engine ones.
SAA acting CEO, Zuks Ramasia
This comes even as the government of South Africa is yet to deliver the $139 million it had promised to inject into the airline, so as to prevent its liquidation. It only managed to receive $136 million from existing lenders.
Read Also: SAA to Receive $272 Million Bailout
This comes amidst claims that the country’s credit ranking may sink further if it fails to sustain the airline.
South African Airways is the state-owned flag carrier of South Africa. Its headquarters are in Airways Park at O.R Tambo International Airport. The airline links over 40 local and international destinations across Africa, Asia, Europe, North America, South America, and Oceania. Its base is at Johannesburg International Airport.
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