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Published on : Thursday, November 24, 2016
Bain & Company, international management consulting firm , has been engaged by the South African government to advise on turning around the country’s loss-making national flag carrier, South African Airways (SAA).
SAA, which has been surviving with the help of some 20 billion Rand (about 1.43 billion US dollars) in state guarantees, reported a loss of 1.5 billion Rand for its last financial year, after losing 5.6 billion Rand the year before.
Theglobal management consulting firm, which is based in Boston in the United States, will also advise on two other state-owned airlines — Mango and South African Express, the National Treasury said in a statement in Pretoria Tuesday.
Mango is a subsidiary of SAA while South African Express is an independent airline operating in a strategic alliance with SAA.
Tags: South African Airways