South African Airways seeks investor to revive its fortunes

South African Airways will revive a plan to seek an equity partner that’s able to provide cash and operational savings to help turn around the airline, according to its new CE. A strategic investor would ideally come from within the aviation industry, CE Vuyani Jarana said Monday. That will enable unprofitable SAA to share costs, improve customer service and gain a capital injection, he said. “You don’t just want a pure investor such as private equity,” said Jarana. “With a strong equity partner that has operations elsewhere, you are able to leverage from each other’s capabilities.” A successful search for a new investor would solve the most pressing challenge facing Jarana -- that of putting SAA on a sure financial footing without need of a further govt bailout. <br/>