Plans to privatize SAA, grounded
Union Solidarity has halted its plans to have South African
Airways (SAA) placed under business rescue.
Spokesperson Dirk Hermann announced the details of the latest developments during a press conference in Pretoria on Tuesday morning.
“SAA Group CEO Vuyana Jarana, has given a written undertaking to Solidarity to immediately initiate a process to procure a strategy,” says Hermann.
Although no timeline has been given by SAA, Solidarity remains adamant to see the matter through.
“We are not naïve, the SAA’s written undertakings are sufficient to suspend the application.
"However, we are very skeptical about the implementation of these undertakings.
We have confidence in Mr Jarana’s good
intentions and we will give him the benefit of the doubt for the present.
However, we have less confidence in the shareholder’s political will
to make radical decisions on private ownership of SAA,” adds Hermann.
Solidarity’s Dirk Hermann says they expect SAA to initiate a process to procure a strategic partner immediately.