South African Airways (SAA) is considering selling valuable landing rights at international airports such as London Heathrow to overcome financial difficulties, the deliberations were revealed during a briefing to Parliament's Standing Committee on Public Accounts (Scopa) on October 22.
The potential sale follows the failed investment deal with the Takatso consortium, which was to have provided SAA with a capital injection of 3 billion rand (about 157 million euros). Transport Minister Barbara Creecy stressed that although SAA had been able to pay off debt, it still needed new investments to secure operational needs and growth.
SAA Chairman Derek Hanekom outlined the operational adjustments required following the failed Takatso deal and reported that SAA is currently seeking a small loan to boost cash reserves. The airline has unencumbered assets worth R5 billion (EUR 262 million) that could serve as collateral for a loan. While SAA is leasing some slots to Qatar Airways, it remains unclear whether it plans to resume its flights to Heathrow. Aviation economist Joachim Vermooten raised the possibility of considering other airports as well. Despite the challenges, SAA leadership remains optimistic and plans to increase the fleet from 16 to 21 aircraft.
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