SAA mulls cost cuts, asset sales, City Press says

South African Airways is considering cost cuts including selling some assets, following a refusal by banks to lend any more money to the state-owned company, according to City Press newspaper. Management is thinking about selling the airline’s catering unit, Air Chefs, and outsourcing or selling SAA Cargo, the Johannesburg-based paper reported, citing an official it did not identify and an internal report. The company is set to record a 6 billion rand ($419 million) loss at the end of the current financial year, City Press said, citing the internal report. A spokesman for SAA didn’t answer a call seeking comment outside of usual office hours.<br/>