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South African Airways is poised to cut close to 20% of its workforce as part of an effort to restructure the carrier. The airline employs nearly 5,150 personnel but says it has started a consultation process after embarking on an overhaul which "may lead to job losses". SAA puts the number of positions potentially affected at 944. "We urgently need to address the ongoing loss-making position that has subsisted over the past years," says acting CE Zuks Ramasia. She says the restructuring is intended to smooth the implementation of an accelerated turnaround strategy. SAA has been long mired in financial difficulties, with debt and liquidity problems, and insufficient revenue. "[Our] balance sheet has historically been weak and remains so despite recent substantial capital injections from the govt," says Ramasia. <br/>

The Croatian govt is planning to sell 70% of its stake in Croatia Airlines by June 2020, according to media reports. The minister for Sea, Transport and Infrastructure, Oleg Butković recently stated that the govt’s recent decision to inject E33.7m into the airline would help it find a strategic investor which would agree to a partnership “based on 30% state ownership, and 70% private investment”. “Consultants are currently looking into potential strategic partners and will decide on the best possible recapitalisation model by year’s end,” Butković commented. “Then we will launch a public tender. Based on the govt’s decision, we will select a strategic partner by the end of June 2020. The focus is currently on finding an investor from the aviation sector, but we are not insisting on it." <br/>