South African Airways operates independently and no longer requires government guarantees, as confirmed by Transport Minister Barbara Creecy during her budget speech.
SAA reported a profit of ZAR252m (USD14.3m) for the 2022/2023 financial year, marking its first profit since 2012.
The airline is expected to contribute ZAR32.6 billion (USD1.8 billion) to national GDP by 2029/30 and to support 86,700 jobs by expanding its operations.
Creecy mentioned SAA’s pursuit of a route expansion strategy to enhance intra-African connectivity and its ongoing fleet growth amid supply chain challenges.
The Airports Company South Africa has committed ZAR21.7bn (USD1.2bn) for infrastructure projects, aiming for significant passenger and freight increases by the end of the political term.
Transport Minister Barbara Creecy shared “Now operating independently and no longer reliant on government guarantees, SAA is self-funding its operations and fleet growth. Over the same period, the airline’s operations are expected to support 86,700 jobs, up from the current 25,000. New regional routes from Johannesburg O.R. Tambo and Cape Town International aim to boost intra-African connectivity, supporting tourism and trade.”
