SAA agrees to hire recovery expert

South African Airways has agreed to hire a restructuring expert to help turn around the airline and meet conditions laid down by lenders to roll over debt, according to 2 people familiar with the matter. Incoming CE Vuyani Jarana met with British industry veteran Peter Davies last month and he agreed to help try to return SAA to profit, said the people. Davies is a former CE of European airlines including Air Malta and Brussels Airlines and currently runs Airline Management Group. “We are finalising steps that will lead to the appointment of a chief restructuring officer,” a SAA spokesman confirmed. The appointment of a strong management team is one of several conditions lenders have laid down to extend talks on loan repayments beyond Finance minister Malusi Gigaba’s mid-term budget update in October. <br/>